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Several years ago, Brant, Incorporated, sold $ 1 , 0 2 0 , 0 0 0 ?in bonds to the public. Annual cash interest of
Several years ago, Brant, Incorporated, sold $ ?in bonds to the public. Annual cash interest of ?percent ?$ ?was to be pald on this debt. The bonds were issued at a discount to yleld ?percent. At the beginning of ?Zack Corporation a wholly owned subsidlary of Brant ?purchased $ ?of these bonds on the open market for $ ?a price based on an effectuve interest rate of ?percent. The bond llability had a carrying amount on that date of $ ?Assume Brant uses the equity method to account Internally for its investment in Zack.
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a ?& b ?What consolidation entry would be required for these bonds on December ?and December ?Note: If no entry is required for a transactionevent ?select No journal entry required" in the first account field. Round your Intermedlate calculatlons and final answers to nearest whole number.
table ?Answer is not complete.NoDate,,,,Debit,GreditDecember Bonds payable,,Q
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