On January 1, 2022, Wildhorse Company issued $387,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (b) Date Jan. 1, 2022 eTextbook and Media List of Accounts Account Titles and Explanation Save for Later (c) Date Dec. 31, 2022 Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) e Textbook and Media Account Titles and Explanation List of Accounts Save for Later Debit Date Account Titles and Explanation Jan. 1, 2023 Attempts: 0 of 5 used Debit Credit Submit Answer Debit Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Attempts: 0 of 5 used Submit Answer Credit

On January 1, 2022, Wildhorse Company issued $387,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (b) Date Jan. 1, 2022 eTextbook and Media List of Accounts Account Titles and Explanation Save for Later (c) Date Dec. 31, 2022 Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) e Textbook and Media Account Titles and Explanation List of Accounts Save for Later Debit Date Account Titles and Explanation Jan. 1, 2023 Attempts: 0 of 5 used Debit Credit Submit Answer Debit Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Attempts: 0 of 5 used Submit Answer Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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