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Ch 15 Graded Homework Assignment Question 1 of 4 < > -/25 E View Policies Current Attempt in Progress Wildhorse Products Ltd. issued $3.54 million of 5%.5-year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Wildhorse Products may buy back the bonds at any time. The market interest rate was 6% for these bonds. Wildhorse has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (b) Calculate the price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to O decimal places, e.g. 1,575.) Price of the bonds $ 3.54 Record the bond issue. (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 O for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1, 2021

Record the bond issue. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2021 W (To record issuance of bonds.) e Textbook and Media Assistance Used List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer