Required information

Exercise $9-17($Algo$)$ Record bonds issued at a discount and related annual interest $($LO$9-5)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ White Water issues $$510,000$ of $7\%$ bonds, due in $10$ years, with interest payable annually on

December $31$ each year.

Assuming the market interest rate on the issue date is $8\%,$ the bonds will issue at $$475,777.$

Exercise $9-17($Algo$)$ Part $2$

Record the bond issue on January $1,2024,$ and the first two interest payments on December $31,2024,$ and December $31,2025.($If

no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your

final answers to the nearest whole dollar.$)$

Journal entry worksheet

Record the bond issue.

Note: Enter debits before credits.