Wildhorse Inc. issued $920,000 of 10.40%,20-year bonds on January 1,2023, at 103. Interest is payable...

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Accounting

Wildhorse Inc. issued $920,000 of 10.40%,20-year bonds on January 1,2023, at 103. Interest is payable semi-annually on July 1 and January 1. Wildhorse uses the effective interest method of amortization for any bond premium or discount. Assume an effective yield of 10.00%.(With a market rate of 10.00%, the issue price would be slightly higher. For simplicity, ignore this.)
(a) Prepare the journal entry to record the issuance of the bonds. (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. List debit entry before credit entry.)
(b) Prepare the journal entry to record the payment of interest and the related amortization on July 1,2023.(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. List all debit entries before credit entries.)
(c) Prepare the journal entry to record the accrual of interest and the related amortization on December 31,2023.(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. List all debit entries before credit entries.)

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