Par Corporation holds 60 percent of Short Publishing Company's voting shares. Par issued $580,000 of 8 percent bonds with a 10- year maturity on January 1, 20X2, at 92. On January 1, 20X8, Short purchased $116,000 of the Par bonds for $122.000, Partial trial balances for the two companies on December 31, 20XB, are as follows: Note: Assume using straight-line amortization of bond discount or premium 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: Par Corporation Short Publishing Company $ 134,000 $121,500 500,000 19,000 52,000 8,500 30,000 4,640 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