Wildhorse Co$.$ issued $$575,500$ of $5-$year, $5\%$ bonds at $98$ on January $1,2022.$ The bonds pay interest annually.

$($a$1)$

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Prepare the journal entry to record the issuance of the bonds. $($Credit accourift titles are automatically indented when amc is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

Discount on Bonds Payable $\text{'}$