Check Purse Corporation owns 70 percent of Scarf Company's voting shares. On January 1, 20X3. Scarf sold bonds with a par value of 5615.000 at 98. Purse purchased $410,000 per value of the bonds, the remainder was sold to noneffiliates. The bonds mature in five years and pay an annual interest rate of 8 percent. Interest is paid semiannually on January 1 and July 1 Required: a. What amount of interest expense should be reported in the 20x4 consolidated income statement? (Do not round your intermediate calculations, Round your final answer to nearest whole dollar) sterettens b. Prepare the journal entries Purse recorded during 20X4 with regard to its investment in Scarf bonds Of no entry is required for 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 transaction list Journal entry worksheet 11 2 3 > c. Prepare all worksheet consolidation entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 20X4. (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) view transaction list Consolidation Worksheet Entries Record the entry to eliminate the effects of the intercompany ownership in the bonds. Note: Enter debit belore credits