WEEK 3 - Chapter 14 Homework (Part A) Saved 3 On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face amount of $37 million. The bonds sold for $36.3 million and mature on February 28, 2024. Interest is paid semiannually on August 31 and February 28. Stillworth Corporation acquired $37,000 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. 33.34 points Required: 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. eBook Req 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stillworth's investment on April 1, 2021. (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. Note: Enter debits before credits. General Journal Debit Credit Date April 01, 2021 Record entry Clear entry View general journal Req 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries to record (a) issuance of the bonds by Western and (6) Stillworth's investment on April 1, 2021. (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 2 Record the bond investment by Stillworth Corporation. Note: Enter debits before credits. General Journal Debit Credit Date April 01, 2021 Record entry Clear entry View general journal Req 1 Req 2 Western > Req 1 Req 2 Western Req 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Req 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Req 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Reg 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Req 1 Req 2 Western Req 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Record interest expense for Western Communications. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2023 Record entry Clear entry View general journal Reg 1 Req 2 Western Req 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Record interest expense for Western Communications. Note: Enter debits before credits. General Journal Debit Credit Date August 31, 2023 Record entry Clear entry View general journal Req 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Record interest expense for Western Communications. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2023 Record entry Clear entry View general journal Req 1 Req 2 Western Req2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Record interest expense for Western Communications. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2024 Record entry Clear entry View general journal Reg 1 Req 2 Western Req 2 Stillworth Prepare the journal entries for Western Communications, Inc., 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 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal Reg 1 Req 2 Western Reg 2 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 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 Reg 1 Req 2 Western Reg 2 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 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 Req 1 Req 2 Western Reg 2 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 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 Req 1 Reg 2 Western Reg 2 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 Record interest revenue for Stillworth Corporation. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2024 Record entry Clear entry View general journal Reg 1 Req 2 Western Reg 2 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 Record the receipt of the bond retirement proceeds by Stillworth Corporation. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2024 Record entry Clear entry View general journal