Several years ago Brant, Inc., sold $1,050,000 in bonds to the public. Annual cash interest of 8 percent ($84,000) was to be paid on this debt. The bonds were issued at a discount to yield 10 percent. At the beginning of 2016, Zack Corporation (a wholly owned subsidiary of Brant) purchased $210,000 of these bonds on the open market for $231,000, a price based on an effective interest rate of 6 percent. The bond liability had a carrying amount on that date of $910,000. Assume Brant uses the equity method to account internally for its investment in Zack.

a. & b. What consolidation entry would be required for these bonds on December 31, 2016 and December 31, 2018? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate answers to nearest whole number.)

here are the incorrect answers

Debit 183,200 13,860 49,000 Date Accounts Credit December 31,2016 Bonds payable nterest income Loss on retirement of debt Investment in bonds 228,060 18,200 Interest expense December 31, 2018 2 Bonds payable nterest income Investment in Zack 183,972 13,497 42,424 Investment in bonds 221,641 18,252 Interest expense