During 20X4, Plate Company paid its employees $80,000 for work done in helping its wholly owned subsidiary build a new office building that was completed on December 31, 20X4. Plate recorded the $110,000 payment from the subsidiary for the work done as service revenue. The subsidiary included the payment in the cost of the building and is depreciating the building over 25 years with no assumed residual value. Plate uses the fully adjusted equity method.

Required
Present the elimination entries needed at December 31, 20X4 and 20X5, to prepare Plate's consolidated financial statements.