On April 1, 2024, Western Communications, Incorporated, issued 12% bonds, dated March 1, 2024, with face amount of $30 million. - The bonds sold for $29.3 million and mature on February 28, 2027. - Interest is paid semiannually on August 31 and February 28. - Stillworth Corporation acquired $30,000 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. Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stilworth's investment on April 1, 2024. 2. Prepare the journal entries by both firms to record all events related to the bonds through maturity. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entries to record (a) issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2024. Note: if no entry is required for a traniactionvevent, select 'No journal entry required" in the first account field. Enter your answers in whole dollars. The long-term liability section of Twin Digital Corporation's balance sheet as of December 31,2023 , included 12% bonds having a face amount of $20 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2024, Twin Digital retired the bonds at 102($20.4 million) before their scheduled maturity. Required: 1. \& 2. Prepare the necessary journal entries by Twin Digital on July 1, 2024 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld, Enter your answers in whole doliars. Bradley-Link's December 31,2024 , balance sheet included the following items: Note 8: Bonds (in part) The 9.6% bonds were issued in 2011 at 97.5 to yield 10%. Interest is paid semiannually on June 30 and December 31 . Each $1,000 bond is convertible into 40 shares of the Company's no par common stock. The 10.4% bonds were issued in 2015 at 102 to yield 10%. Interest is paid semiannually on June 30 and December 31 . Each $1,000 bond was issued with 40 detachable stock warrants, each of which entitles the holder to purchase one share of the Company's no par common stock for $25, beginning 2025 . On January 3, 2025, when Bradley-Link's common stock had a market price of $32 per share, Bradley-Link called the convertible bonds to force conversion. Ninety percent were converted; the remainder were acquired at the call price. When the common stock price reached an all-time high of $37 in December of 2025,40% of the warrants were exercised. Required: 1. Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2011 and 2015. 2. Prepare the joumal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025 and the retirement of the remainder. 3. Assume Bradley-Link induced conversion by offering $150 cash for each bond converted. Preptre the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025. 4. Assume Bradley-Link induced conversion by modifying the conversion ratio to exchange 45 shares for each bond rather than the 40 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025 5. Prepare the journal entry to record the exercise of the warrants in December 2025. On April 1, 2024, Western Communications, Incorporated, issued 12% bonds, dated March 1, 2024, with face amount of $30 million. - The bonds sold for $29.3 million and mature on February 28, 2027. - Interest is paid semiannually on August 31 and February 28. - Stillworth Corporation acquired $30,000 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. Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stilworth's investment on April 1, 2024. 2. Prepare the journal entries by both firms to record all events related to the bonds through maturity. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the joumal entries to record (a) issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2024. Note: if no entry is required for a traniactionvevent, select 'No journal entry required" in the first account field. Enter your answers in whole dollars. The long-term liability section of Twin Digital Corporation's balance sheet as of December 31,2023 , included 12% bonds having a face amount of $20 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2024, Twin Digital retired the bonds at 102($20.4 million) before their scheduled maturity. Required: 1. \& 2. Prepare the necessary journal entries by Twin Digital on July 1, 2024 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld, Enter your answers in whole doliars. Bradley-Link's December 31,2024 , balance sheet included the following items: Note 8: Bonds (in part) The 9.6% bonds were issued in 2011 at 97.5 to yield 10%. Interest is paid semiannually on June 30 and December 31 . Each $1,000 bond is convertible into 40 shares of the Company's no par common stock. The 10.4% bonds were issued in 2015 at 102 to yield 10%. Interest is paid semiannually on June 30 and December 31 . Each $1,000 bond was issued with 40 detachable stock warrants, each of which entitles the holder to purchase one share of the Company's no par common stock for $25, beginning 2025 . On January 3, 2025, when Bradley-Link's common stock had a market price of $32 per share, Bradley-Link called the convertible bonds to force conversion. Ninety percent were converted; the remainder were acquired at the call price. When the common stock price reached an all-time high of $37 in December of 2025,40% of the warrants were exercised. Required: 1. Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2011 and 2015. 2. Prepare the joumal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025 and the retirement of the remainder. 3. Assume Bradley-Link induced conversion by offering $150 cash for each bond converted. Preptre the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025. 4. Assume Bradley-Link induced conversion by modifying the conversion ratio to exchange 45 shares for each bond rather than the 40 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2025 5. Prepare the journal entry to record the exercise of the warrants in December 2025