This question is out there MANY time ALLWRONG I show the wrong answer with a RED X., if this is the answer you have, PLEASE DON'T ANSWER. I need the correct answer. Obviously the red x indicates a wrong answer. Also PLEASE PROVIDE FORMULAS so I can ducplicate should the quesiton be on a test. Sorry for the all the caps, just very frustrated with this chapter, this is the 3rd question with the same problems, all wrong answers. I've submitted for help twice on some, in dire hopes of getting any kind of help. I've asked the professor but the result is nul.

Wood Corporation owns 70 percent of Carter Company's voting shares. On January 1, 20X3, Carter sold bonds with a par value of $815,000 at 98. Wood purchased $410,000 par value of the bonds; the remainder was sold to nonaffiliates. The bonds mature in five years and interest rate of 8 percent. Interest is paid semiannualy on January 1 and July 1 pay an annual Required: a. What amount of interest expense should be reported in the 20X4 consolidated income statement? (Do not round your intermediate calculations. Round your final answers to nearest whole dollar.) Answer is complete but not entirely c 17.220 b. Prepare the journal entries Wood recorded during 20X4 with regard to its investment in Carter bonds. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your market rate of interest to 3 decimals. For example, .0547523 should be rounded to 5.47596) Answer is not complete. No Date General Journal Debit Credit January 01 Cash 16,400 Interest receivable 16,400 Juby 01 Cash 18,400 Investment in Carter Company bonds 17.220 Interest income 3 December 31 Accounts payable 16,400 Investment in Carter Company bonds Interest income 16,400 16,400 c. Prepare all worksheet consolidation entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 20x4. (If no entry is required for a transaction event, select "No journal entry required" in the first account field. Round your market rate of interest to 3 decimals. For example, .0547523 should be rounded to 5.47596) Answer is not complete. No Event Debit Credit 410.0000 Bonds payable nterest income Investment in Carter Company bonds Bond discount nterest expense Interest payable 16,400 Interest receivable 16,400