EXERCISE 7-5 Upstream and Downstream Sale L06 Patenon Company owns 80% of the outstanding connnan stock of Stevens Campany On June 30, 2013, land costing S500,000 is sokd by one affiliate to the other for S800,000 Required: Prepare in general journal form the workpaper entries necessary because of the intercompany sale of land in the consolidated financial statements workpaper for the year ended December 31, 2014, assuming that: A. Pallerson Company purchased the land from Stevens Company. B. Stevens Company purchased the land from Patterson Company