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Stallion Note: Assume using straight-line amortization of bond discount or premium.General JournalDebit CreditInterest Receivable12,000Interest Income11, 400Investment in StallionCorporation BondsGOOPony Corporation owns 65 percent of the voting stock of Stallion Corporation, and consolidated statements arprepared on December 31, 20X7.Required:a. What was the original purchase price of the bonds to Pony Corporation?X Answer is not complete.Original purchasepriceb. What is the balance In Pony’s bond investment account on […]

Stallion Note: Assume using straight-line amortization of bond discount or premium.General JournalDebit CreditInterest Receivable12,000Interest Income11, 400Investment in StallionCorporation BondsGOOPony Corporation owns 65 percent of the voting stock of Stallion Corporation, and consolidated statements arprepared on December 31, 20X7.Required:a. What was the original purchase price of the bonds to Pony Corporation?X Answer is not complete.Original purchasepriceb. What is the balance In Pony’s bond investment account on […]

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