On May 1, 2022, Wildhorse Corp. issued $910,000, 9%, 5-year bonds at face value. The...
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On May 1, 2022, Wildhorse Corp. issued $910,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31.
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(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.) Debit Credit Date Account Titles and Explanation May 1, 2022 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (b) Prepare the adjusting 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.) Debit Credit Date Account Titles and Explanation Dec 31 2022 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (c) o Show the balance sheet presentation on December 31, 2022. (Enter account name only and do not provide descriptive information.) Wildhorse Corp Balance Sheet (Partial) $
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