Several years ago Brant, Inc., sold $$960,000$ in bonds to the public. Annual cash Interest of $9$ percent $)$ was to be pald on thr

debt. The bonds were issued at a discount to yleld $12$ percent. At the beginning of $2019,$ Zack Corporation $($a wholly owned subsidiary

of Brant$)$ purchased $$120,000$ of these bonds on the open market for $$141,000,$ a price based on an effective interest rate of $7$ percen

The bond liability had a carrying amount on that date of $$820,000.$ Assume Brant uses the equlty method to account Internally for its

Investment in Zack.

a$.$ & b$.$ What consolidation entry would be required for these bonds on December $31,2019$ and December $31,2021?($If no entry Is

requlred for a transaction$/$event$,$ select $"$No journal entry requlred" In the flrst account field. Round your Intermedlate

calculations and final answers to nearest whole number.$)$

Consolidation

Worksheet Entries

Prepare Consolidation Entry B to account for these bonds on December $31,$

Note: Enter debits before credits.