Question

value 10.00 points On April 1, 2012, Western Communications issued 12% bonds, dated March 1, 2012, with principal amount of $30 million. The bonds sold for $29.6 million (which includes one month's accrued interest of $300,000 for March 2012) and mature on February 28, 2015. Interest is paid semiannually on August 31 and February 28. Stillworth acquired $30,000 of the bonds as a long-term investment to be held to maturity. The financial years of both firms end December 31 . The effective interest rate on the bond was 6.493% per semiannual period. Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stilworth's investment on April 1, 2012. (Do not round intermediate calculations. Enter your answers in dollars not in millions.) Debit Credit Date April 1, 2012 General Journal (Western) Cash 29600000 Discount on bonds payable 700000 Bonds payable Interest paya 30000000 300000 April 1, 2012 (Stillworth) Bond investment 30000 Interest receivable Cash Discount on bond investment 2. Prepare the journal entries by both firms to record all subsequent events related to the bonds through maturity. (Do not round intermediate calculations. Enter your answers in dollars not in millions.) 在这里输入你要搜索的内容 novo 2. Propare the journal entries by both firms to record all subsequent events rolated to the bonds through maturity. (Do not round intermediate calculations. Enter your answers in dollars not in millions.) General Journal Debit Aug. 31, 2012 (Westem) Click to select) Click to select) (Click to select) (Click to select) Aug. 31, 2012 (Silworth) (Click to select) Click to select) (Click to select) Click to select) Dec. 31, 2012 Click to select) (Click to select) (Click to select) Dec. 31, 2012 (Stilworth) (Click to select) Click to select (Click to seloct) Feb. 28, 2013 Click to select) Click to select) Click to select) (Click to select) Feb. 28, 2013 (Stilworth) Click to solac) Click to select) Click to select) (Click to select) 在这里输入你要搜索的内容 enovO Aug. 31, 2013 (Stilworth) (Click to select) Click to select Click to select) Dec. 31,2013 Click to select) Click to select) (Click to select) Dec. 31, 2013 (Stillworth) Click to select) Click to select) Click to select) Feb. 28, 2014 Western) (Click to select) Click to select) Click to select) (Click to select) Feb. 28, 2014 (Stillworth) Click to select) (Click to select Click to select) (Click to select) Aug. 31, 2014 Westem) (Click to select) (Click to select) (Click to select) Aug-31, 2014 (Stillworth) Click to select) Click to select) Click to select) 。在这里输入你要搜索89内容 novo A ezto mheducation.com/him.tp Aug 31, 2014 (Stillworth) (Click to select) Click to select) (Click to select) Dec. 31.2014 Western) (Click to select) Click to select) Click to select) Dec. 31. 2014 (Stillworth) Click to select) (Click to select) Click to select) (Western) (Click to select) Click to select) Feb. 28, 2015 (Click to select) Click to select) (Click to select) (Click to select) Feb. 28, 2015 (Stillworth) (Click to select) Click to selet) Click to select) Click to select) Click to select) Click to select) References 这里输入你要搜索的内容

Answer 1

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