10.00 points On April 1, 2012, Western Communications issued 12% bonds, dated March 1, 2012, with principal amount of $30 miltion. The bonds sold for $29.6 million (which includes one month's accrued interest of $300,000 for March 2012) and mature on February 28, 2015. Interest is paid semiannually on August 31 and February 28. Stillworth acquired $30,000 of the bonds as a long-term investment to be held to maturity. The financial years of both firms end December 31, The effective interest rate on the bond was 6493% per semiannual period. Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2012. (Do not round intermediate calculations. Enter your answers in dollars not in millions. General Journal Date April 1, 2012 (Western) Debit Credit Cash 29,600,000 Discount on bonds payable 700,000 Bonds payable 30,000,000 Interest payable 300,000 April 1, 2012 (Stillworth) Bond investment Interest receivable 30,000 300 Cash Discount on bond investment 29,600 700 2. Prepare the journal entries by both firms to record all subsequent events related to the bonds through maturity. (D not round intermediate calculations. Enter your answers in dollars not in millions.) Date General Jounal Credit Aug. 31, 2012 (Western) Interest expense Interest payable 300,000 Cash 1,800,000 Discount on bonds payable ovo