An item of Equipment owned by Piano Ltd was sold to Forte Ltd on 01/01/2021 for $485,021. The cost of the Equipment was $442,560 and its accumulated depreciation was $88,530 at the time of transfer. Forte Ltd estimated this item had an annual depreciation rate of 20% with no residual value. Tax rate 30%.

Required:

Prepare consolidation journal entries to eliminate intra-group non-current asset transaction for the year ended 30/06/2023.