Semianual bond interest

Wicked Wild Company is considering raising additional capital for further expansion. The company wants to finance a new business venture into guided trips down the Amazon River in South America. Additionally, the company wants to a another building on their land to offer more services for local customers. (Cick the ioon to viewing the financing information.) Read the recuirements Wicked Wild's bonds wil be issued at a discount because the cash proceeds are less than the face value of the bonds. Requirement 2. Record the following transactions. Include dates and round to the nearest dollar. Omit explanations. (Round your answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from any journa entries a. Cash received from the bond issue. Date 2020 Jan. 2 Cash Accounts Debit Credit 998,800 Discount on Bonds Payable 1,200 Bonds Payable 1,000,000 b. Cash received from the mortgage payable. Date 2020 Jan. 2 Cash Accounts Debit Credit 750,000 Mortgages Payable 750,000 c. Semiannual bond interest payments for 2020. Amortize the premium or discount using the straight-line amortization method. Start by recording the semiannual bond interest payment on June 30, 2020. Debit Credit Date 2020 Jun. 30 Accounts Interest Expense 30,120 Discount on Bonds Payable 120 Cash 30,000 Now record the semiannual bond interest payment on December 31, 2020. Debit Date 2020 Dec. 31 Accounts Credit