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Wildhorse Company issued $321,500 of 7%, 10-year bonds on January 1, 2020, at face value....

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Accounting

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Wildhorse Company issued $321,500 of 7%, 10-year bonds on January 1, 2020, at face value. Interest is payable annually on January 1. (a) Your answer is partially correct. the bonds. (Credit account titles are automatically indented when Prepare the journal entry to record the issuance amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bonds Payable Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2020

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