View Policies Show Attempt History Current Attempt in Progress Whispering Winds Corp. sold $2,900,000, 6%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Whispering Winds Corp. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 102. (a) Your answer is correct Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 2958000 Jan 1, 2022 Canti 58000 Premium on Bonds Payable 2900000 Bonds Payable e Textbook and Media List of Accounts Attempts: 1 of 10 used (b) Your answer is correct. Prepare a bond premium amortization schedule for the first four interest periods. Annual Interest Periods Interest Expense to Be Recorded Premium Amortization Unamortized Prer Interest to Be Paid $ Issue date 5800 1 174000 168200 4 168200 5800 174000 2 5800 168200 3 174000 3 5800 168200 174000 4 eTextbook and Media List of Accounts Attempts: 2 of 10 used (c) Your answer is partially correct Prepare the journal entries for interest and the amortization of the premium in 2022 and 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Dec 31, 2022 Interest Expense Premium on Bonds Payable Interest Payable Jan 1, 2023 Interest Payable TUORODOS Cash Dec 31, 2023 Interest Expense Premium on Bonds Payable Interest Payable e Textbook and Media List of Accounts Attempts: 1 of 10 used Submit Answer Save for Later