I need help with preparing the journal entries on the parent's books and the sub's books for the bonds on year 20X1. Also I need the consolidation entries for years 20X1 and 20X2 for the bonds ONLY.

P3-16A Direct Sale of Bonds to Parent (Straight-Line Method) LO 3-20 On January 1, 20X1, Prize Corporation paid Morton Advertising $116,200 to acquire 70 percent of Statue Company's stock. Prize also paid $45,000 to acquire $50,000 par value 8 percent, 10-ycar bonds directly from Statue on that date. Interest payments are made on January 1 and July 1. The fair value of the noncontrolling interest at January 1, 20X1, was $49,800, and book value of Statue's net assets was $110,000. The book values and fair values of Statue's assets and liabilities were equal except for buildings and equipment, which had a fair value $56,000 greater than book value and a remaining cconomic life of 14 ycars at January 1,20x1 The trial balances for the two companies as of December 31, 20X3, are as follows: Prize Corporation Debit 30,300 170,000 320,000 46,500 144,200 Statue Company Item Cash & Current Reccivables Inventory Land, Buildings, & Equipment (net) Investment in Statuc Bonds Investment in Statuc Stock Discount on Bonds Pavable Operating Expenses Interest Expense Dividends Declared Current Liabilitics Bonds Payable Common Stock Retaincd Earnings Sales Interest Income Income from Statue Company Credit Debit 5 46,000 70,000 180,000 Credit 198,500 27,000 60,000 7,000 161,000 9,000 10,000 35,000 300,000 100,000 238,800 300,000 4,500 18,200 33,000 100,000 50,000 100,000 200,000 On July 1,20X2, Statue sold land that it had purchased for $17,000 to Prize for $25,000. Prize continues to hold the land at December 31, 20X3. Assume Prize Corporation uses the fully adjusted equity method. Page 432 Required a Record the journal entries for 20X3 on Prize's books related to its investment in Statue's stock and bonds. b. Record the entries for 20X3 on Statue's books related to its bond issuc. c. Prepare consolidation entries needed to complete a worksheet for 20x3 d Prepare a three-part consolidation worksheet for 20X3