Par Corporation holds 60 percent of Short Publishing Companys voting shares. Par issued $500,000 of 10 percent (paid semiannually) bonds with a 10-year maturity on January 1, 20X2, at 90. On January 1, 20X8, Short purchased $100,000 of the Par bonds for $106,000. Partial trial balances for the two companies on December 31, 20X8, are as follows:

	Par Corporation	Short Publishing Company
Investment in Short Publishing Company Stock	$ 141,000
Investment in Par Corporation Bonds		$ 104,676
Bonds Payable	500,000
Discount on Bonds Payable	21,289
Interest Expense	55,626
Interest Income		8,676
Interest Payable	25,000
Interest Receivable		5,000

Required:

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.