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Wildhorse Co. sold $3.720,000,8%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Wildhorse Co.
Wildhorse Co. sold $3.720,000,8%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Wildhorse Co. uses the straight-line method to amortize bond premium or discount (a) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 103. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2022 Trowband Media (b) Prepare an amortization table through December 31, 2024 (three interest periods) for this bond issue. (Round answers to decimal places, eg. 15,250.) Wildhorse Co. Bond Discount Amortization Effective-Interest Method-Annual Interest Payments Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value
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