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On July 1,2024, Wildhorse Corp. issued $4.02 million of 10-year, 5% bonds at $4,348,664. This...

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Accounting

On July 1,2024, Wildhorse Corp. issued $4.02 million of 10-year, 5% bonds at $4,348,664. This price resulted in a 4% market interest rate on the bonds. The bonds pay semi-annual interest on July 1 and January 1, and Wildhorse has a December 31 year end.Record the accrual of interest and the interest payments for the first three years of the bonds. (List all debit entries before credit entries. Round answers to 0 decimal places, e.g.5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

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