Combine dry ingredients:

Stir together first 4 ingredients in a large bowl until well blended.

Mix bourbon and corn syrup:

In a separate bowl, stir together bourbon and corn syrup until well blended.

Combine bourbon mixture and water mixture:

Stir bourbon mixture into the wafer mixture.

Roll bourbon balls:

Shape into 1-inch balls.

Roll in powdered sugar.

Chill bourbon balls:

Place finished bourbon balls in a lidded container, cover, and chill at least 30 minutes. Store chilled in a container up to 2 weeks.