473.1

Pretzel Corporation owns 60 percent of Stick Corporations voting shares. On January 1, 20X2, Pretzel Corporation sold $155,000 par value, 8 percent first mortgage bonds to Stick for $160,000. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1.

Required:

3 steps required, please see each one. I have all the journal entries that are needed, I just need the amounts.

Prepare the journal entries for 20X2 for Stick related to its ownership of Pretzels bonds.

Prepare the journal entries for 20X2 for Pretzel related to the bonds.

Prepare the worksheet consolidation entries needed on December 31, 20X2, to remove the effects of the intercorporate ownership of bonds.

Prepare the journal entries for 202 for Pretzel related to the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not roun your intermediate calculations. Round your final answers to nearest whole dollar. Prepare the journal entries for 202 for Stick related to its ownership of Pretzel's bonds. Note: 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 final answers to nearest whole dollar. Prepare the worksheet consolidation entries needed on December 31,202, to remove the effects of the intercorporate ownership of bonds. Note: 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 final answers to nearest whole dollar