Question: ed 12% bonds, dated March 1, 2018, with face amount of $25 mmon. The bonds On April 1, 2018 Western Comm sold for $24.3 millon

 ed 12% bonds, dated March 1, 2018, with face amount of
$25 mmon. The bonds On April 1, 2018 Western Comm sold for
$24.3 millon and mature on February 28, 2021. Interest is paid semiannually
on August 31 and February 28. Sulworth Corporation acquired $25,000 of the
bonds as a long-term Investment. The fiscal years of both fims end
December 31, and both firms use the straight-Iine method unications, Inc ts
Required: 1. Prepare the journal entries to record (a) issuance of the
bonds by Western and (b) Stllworth's Investment on Aprtil 1, 2018 2
Prepare the journal entries by both firms to record all subsequent events
related to the bonds through maturtty Complete this question by entering your
answers in the tabs below Req 1 Req 2 Westerm Sillworth Prepare
the journal entries to record () issuance of the bonds by Western
and (b) Stillworth's investment on April 1, 2018. (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 Record the issuance of the bonds by Western Communications. Noter Enter
debilts before credts Pray 6016
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image text in transcribed

ed 12% bonds, dated March 1, 2018, with face amount of $25 mmon. The bonds On April 1, 2018 Western Comm sold for $24.3 millon and mature on February 28, 2021. Interest is paid semiannually on August 31 and February 28. Sulworth Corporation acquired $25,000 of the bonds as a long-term Investment. The fiscal years of both fims end December 31, and both firms use the straight-Iine method unications, Inc ts Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stllworth's Investment on Aprtil 1, 2018 2 Prepare the journal entries by both firms to record all subsequent events related to the bonds through maturtty Complete this question by entering your answers in the tabs below Req 1 Req 2 Westerm Sillworth Prepare the journal entries to record () issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2018. (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 Record the issuance of the bonds by Western Communications. Noter Enter debilts before credts Pray 6016

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