3.2

On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face amount of $43 million. The bonds sold for $42.3 million and mature on February 28, 2024. Interest is paid semiannually on August 31 and February 28. Stillworth Corporation acquired $43,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31, and both firms use the straight-line method. 1. Prepare the journal entries to record(a) issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2021. 2. Prepare the journal entries by both firms to record all subsequent events related to the bonds through maturity. ook Complete this question by entering your answers in the tabs below. Reg 2 Reg 1 Reg 2 Western Stillworth Prepare the journal entries for Stillworth Corporation to record all subsequent events related to the bonds through maturity. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 5 6 7 9 10 > Record interest revenue for Stillworth Corporation Note: Enter debits before credits General Journal Debit Credit Date August 31, 2021 OCK Week 3 Discu...docx mapter 14 Homework (Part A) Saved Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Stillworth Corporation to record all subsequent events related to the bonds throu is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answe View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 10 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits Date General Journal Debit Credit August 31, 2021 Record entry Clear entry View general journal . CX Week 3 Discu....docx Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Stillworth Corporation to record all subsequent events related to the bonds thre is required for a transaction/event, select "No journal entry required" in the first account field. Enter your ans View transaction list Journal entry worksheet 2 4 5 6 7 8 9 10 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits General Journal Debit Credit Date February 28, 2022 Record entry Clear entry View general journal 2 3 5 9 6 7 8 10 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits General Journal Debit Credit Date August 31, 2022 Record entry Clear entry View general Journal g Week 3 Discu....docx Saved Chapter 14 Homework (Part A) Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Stillworth Corporation to record all subsequent events related to the bonds throu is required for a transaction/event, select "No journal entry required in the first account field. Enter your answe View transaction list Journal entry worksheet OCX Week 3 Discu...docx Saved apter 14 Homework (Part A) Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Stillworth Corporation to record all subsequent events related to the bonds throug is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answe View transaction list Journal entry worksheet 2 3 4 5 6 B 7 8 9 10 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits General Journal Debit Credit Date February 28, 2023 Record entry Clear entry View general journal