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Pink Company owns an 80% interest in Slight, Inc. On January 1, 2013, Slight issued $100,000...

Pink Company owns an 80% interest in Slight, Inc. On January 1, 2013, Slight issued $100,000 of 9-year, 12% bonds for $100,000 (Face = $100,000= price). On 1/2/2014, Pink purchased all of the outstanding bonds for $102,400. The interest is paid annually. Both firms use the straight-line method of amortization. For simplicity, assume that Pink Company holds the bond until maturity.

Prepare the B1 journal entry for 12/31/2017.

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