On January $1,2013,$ Point Corporation acquired an $80\%$ interest in Sharp Company for $$1,963,000.$ At that time Sharp Company had common stock of $$1,470,000$ and retained earnings of $$689,000.$ The book values of Sharp Company's assets and liabilities were equal to their fair values except for land and bonds payable. The land had a fair value of $$100,000$ and a book value of $$81,000.$ The outstanding bonds were issued at par value on January $1,2008,$ pay $9\%$ annually, and mature on January $1,2018.$ The bond principal is $$504,000$ and the current yield rate on similar bonds is $7\%.$

Prepare the workpaper entries necessary on December $31,2013,$ to allocate and depreciate the difference between book value and the value implied by the purchase price. $($Round answers to $0$ decimal places, e$.$g$.5,125.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

Land

Goodwill

Interest Expense

Unamortized Premium on Bonds Payable

Difference between Implied and Book Value