3.1

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. 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. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Western Red 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 1 2 3 4 5 6 7 8 9 10 Record interest expense for Western Communications. Note: Enter debits before credits General Journal Debit Credit Date August 31, 2021 Week in 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 1 2 3 4 5 6 7 8 9 10 > Record interest expense for Western Communications. Note: Enter debits before credits General Journal Debit Credit Date August 31, 2021 Record entry Clear entry View general journal Week 3 Discu....docx A Saved 3 - Chapter 14 Homework (Part A) B Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related t no entry is required for a transaction/event, select "No journal entry required" in the first account field. dollars.) View transaction list ook Journal entry worksheet 2).docx Week 3 Discu...docx pter 14 Homework (Part A) Saved Reg 1 Req 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related to no entry is required for a transaction/event, select "No journal entry required" in the first account field. dollars.) View transaction list Journal entry worksheet 1 2 4 5 6 7 8 9 10 Record interest expense for Western Communications. Note: Enter debits before credits Date General Journal Debit Credit February 28, 2022 Record entry Clear entry View general journal Week 3 Discu....docx Reg 1 Req 2 Western Req 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related no entry is required for a transaction/event, select "No journal entry required" in the first account field dollars.) View transaction list Journal entry worksheet Record interest expense for Western Communications. Note: Enter debits before credits. Date General Journal Debit Credit August 31, 2022 Record entry Clear entry View general journal Week 3 Discu....docx Saved 3 - Chapter 14 Homework (Part A) B. Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related to no entry is required for a transaction/event, select "No journal entry required" in the first account field. E dollars.) View transaction list Journal entry worksheet docx Week 3 Discu....docx apter 14 Homework (Part A) Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related to the no entry is required for a transaction/event, select "No journal entry required" in the first account field. Ente dollars.) View transaction list Journal entry worksheet 2 Record interest expense for Western Communications. Note: Enter debits before credits. Date General Journal Debit Credit February 28, 2024 Record entry Clear entry View general Journal . Week 3 Discu ....docx MacBook Pro 1 G Search or type URL apter 14 Reg 1 Reg 2 Western Reg 2 Stillworth Prepare the journal entries for Western Communications, Inc., to record all subsequent events related to the bone no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter you dollars.) View transaction list Journal entry worksheet Record the retirement of the bond by Western Communications. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2024 Record entry Clear entry View general Journal