Stang Corporation issued to Bradley Company $620,000 par value, 10-year bonds with a coupon rate of 11 percent on January 1, 20X5, at 104. The bonds pay interest semiannually on July 1 and January 1. On January 1, 20X8, Purple Corporation purchased $155,000 of the bonds from Bradley for $161,000. Purple owns 60 percent of the voting common shares of Stang and prepares consolidated financial statements. Required: a. Prepare the worksheet consolidation entry or entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole dollar.) view transaction list Consolidation Worksheet Entries A B Record the entry to eliminate the effects of the intercompany ownership in bonds for 20X8. Note: Enter debits before credits. Event 1 Accounts Debiti Credit