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Prepare the journal entries for stick related to ownership

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Point 1: Pretzel Corporation owns 60 percent of Stick Corporation's voting shares. On January 1, 20X2, Pretzel Corporation sold $245,000 par value, 8 percent first mortgage bonds to Stick for $254,000. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1.

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Question a. Prepare the journal entries for 20X2 for Stick related to its ownership of Pretzel's bonds. how do you get the market rate for this question?

Reference no: EM132474429

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