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Cairns owns 70 percent of the voting stock of Hamilton, Incorporated. The parent's interest was acquired several years ago on the date that the subsidiary

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Cairns owns 70 percent of the voting stock of Hamilton, Incorporated. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition. Cairns uses the equity method in its internal records to account for its investment in Hamiton. On January 1,2020, Hamilton sold $1,100,000 in 10 -year bonds to the public at 110. The bonds had a cash interest rate of 8 percent payable every December 31. Cairns acquired 45 percent of these bonds at 92 percent of face value on January 1, 2022. Both companies utilize the straight-line method of amortization Required: Prepate the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates. Note: If no entry is required for o transaction/event, select "No journal entry required" in the first account field. a. December 31,2022 b. December 31,2023 c. December 31,2024 Consolidation Worksheet Entries is Prepare Consolidation Entry 18 to account for these bonds on December 31 , 2022 . Wote: Fnter deblo betore credits. Consolidation Worksheet Entries Prepare Consolidation Entry / B to account for these bonds on December 31 , 2023. Note: Enter debits before ccedits. Consolidation Worksheet Entries Prepare Consolidation Entry B to account for these bonds on December 31, 2024. Note: Enter debits before credits

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