Question: On February 1, 2021, Wolf Inc. Issued 12% bonds dated February 1, 2021, with a face amount of $190,000. The bonds sold for $222,604 and

On February 1, 2021, Wolf Inc. Issued 12% bonds dated February 1, 2021, with a face amount of $190,000. The bonds sold for $222,604 and mature in 20 years. The effective Interest rate for these bonds was 10% Interest is paid semiannually on July 31 and January 31. Wolf's fiscal year is the calendar year. Wolf uses the effective Interest method of amortization. Required: 1. Prepare the journal entry to record the bond issuance on February 1, 2021. 2. Prepare the entry to record Interest on July 31, 2021. 3. Prepare the necessary journal entry on December 31, 2021. 4. Prepare the necessary journal entry on January 31, 2022 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Riquired 3 4 Prepare the journal entry to record the bond issuance on February 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet Record the bond issuance on February 1, 2021. Date Caners Journal Dobit Credit February 21 2021 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the entry to record interest on July 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) View transaction llat Journal entry worksheet 1 Record the interest on July 31, 2021. Note Enter debits before credits Date July 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the necessary journal entry on December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediation calculations and Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 Record the necessary entry on December 31, 2021. Note: Enter debits before credits Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Prepare the necessary journal entry on January 31, 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to the nearest whole dollar.) View transaction llet Journal entry worksheet 1 Record the necessary entry on January 31, 2022. Note: Enter debits before credits. Date January 31, 2022 General Journal Debit Credit Record entry Clear entry View general journal

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