Pretzel Corporation owns $60$ percent of Stick Corporation's voting shares. On January $1,20$X$2,$ Pretzel Corporation sold $$200,000$ par value, $8$ percent first mortgage bonds to Stick for $$209,000.$ The bonds mature in $10$ years and pay interest semiannually on January $1$ and July $1.$

Required:

a$.$ Prepare the journal entries for $202$ for Stick related to its ownership of Pretzel's bonds.

b$.$ Prepare the journal entries for $202$ for Pretzel related to the bonds.

c$.$ Prepare the worksheet consolidation entries needed on December $31,202,$ to remove the effects of the intercorporate ownership of bonds.

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Required $A$

Prepare the journal entries for $202$ for Stick related to its ownership of Pretzel's bonds.

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