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Prepare the worksheet consolidation entry

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Suspect Company issued $1,170,000 of 8 percent first mortgage bonds on January 1, 20X1, at 104. The bonds mature in 20 years and pay interest semiannually on January 1 and July 1. Prime Corporation purchased $780,000 of Suspect's bonds from the original purchaser on December 31, 20X5, for $774,000. Prime owns 70 percent of Suspect's voting common stock.

a. Prepare the worksheet consolidation entry

Reference no: EM132440546

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Prepare the worksheet consolidation entry : Suspect Company issued $1,170,000 of 8 percent first mortgage bonds on January 1, 20X1, at 104. The bonds mature in 20 years and pay interest semiannually
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