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Checimy work Stang Corporation issued to Bradley Company $360,000 par value, 10 year bonds with...

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Accounting

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Checimy work Stang Corporation issued to Bradley Company $360,000 par value, 10 year bonds with a coupon rote of 10 percent on January 20X5, at 105. The bonds pay interest semiannually on July 1 and January 1 On January 1, 20X8. Purple Corporation purchased $90,000 of the bonds from Bradley for $94,300. Purple owns 70 percent of the voting common shares of Suang and prepares consolidated financial statements Required: o. Prepare the worksheet consolidation entry or entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 20XB. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your finel answers to nearest whole dollar) view transactional Consolidation Worksheet Entries >

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