Prepare the elimintion entries for september and october

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Reference no: EM131958309

jan 1, 20X8, Subsidiary sold $100,000 par value of 6%, ten-year bonds for $97,000. The bonds pay interest semi-annually on January 1 and July 1 of each year.

On January 1, 20X9, Parent repurchased all of Subsidiary's bonds for $96,400. The bonds are still held on December 31, 20X9.

prepare the elimintion entries for 12/31/09 and 12/31/10

Compute discount/premium

Compute the gain/loss

Compute the interest exp/loss

Reference no: EM131958309

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