gEnabled: Exam 20 Seed Help Seve & Exit Subm Check my work Par Corporation holds 60 percent of Short Publishing Company's voting shares. Par issued $590,000 of 10 percent bonds with a 10- year maturity on January 1, 20x2, at 94. On January 1, 20x8, Short purchased $118,000 of the Par bonds for $124,000 Partial trial balances for the two companies on December 31, 20x8, are as follows Note: Assume using straight-line amortization of bond discount or premium 26 Investment in Short Publishing Company Stock Investment In Par Corporation Bonds Bonds Payable Discount on Bonds Payable Interest Expense Interest Income Interest Payable. Interest Receivable Required: Short Par Corporation $ 134,000 Publishing Company $123,500 590,000 20,000 62,000 9,500 21,000 5,900 Prepare the worksheet consolidation entry or entries needed on December 31, 20x8, to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. view transaction list Consolidation Worksheet Entries 0 3 E 54 R D 55 T ^ 69 acer S P. 1 N 13 100 * 8 9 8 00 9 Y & 7 7 U 4 LL F G H 5 TING NO K 2 0 91 0 P 6 . Pause B + --