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CALCULATOR ES FULL SCREEN PRINTER VERSION NEXT Exercise 15-17 a-c (Part Level Submission) Wildhorse Corporation issued $670,000,9%, 20-year bonds on January 1, 2020, for $612,959. This price resulted in an effective interest rate of 10% on the bonds. Interestis payable annually on January 1. Wildhorse uses the effective interest method to amortize bond premium or discount. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Round answers to deloval places 15.250, Chet outiles are automatically indented when amount is entered. Do not indent manually.) Date Account Tities and Explanation Debit Credit Jan. 1 Cash 612.95 dy 57,041 Discount on Bonds Payable Bonds Payable 670,000 (b) Your answer is correct. Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2020. (Round answers to decimal places, c.0.15.250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 61,296 Discount on Bonds Payable 996 Interest Payable 60,300 Attempts: 1 of 15 used (c) Prepare the journal entry to record the payment of interest on January 1, 2021. (Round answers to decimal places, .. 15.250. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1

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