Prepare elimination entries

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Question - Big Co. owns 80% of the stock of Little Co. On 1/1/23 Little issues $100,000 of 10%, 10 year bonds directly to Big for $103,000. Big and Little both use straight-line amortization.

Prepare elimination entries RELATING TO THIS INTERCOMPANY TRANSACTION for 2023 and 2024?

Reference no: EM132864870

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