On January 1, 20X1, Shaw purchased 100% of the stock of Poe in a transaction that was properly accounted for as a business combination. Required: Items 1 through 3 below represent transactions between Shaw and Poe during 20X1. Prepare the eliminating entries in general journal format for each of these transactions.

1. On January 3, 20X1, Shaw sold equipment with an original cost of $30,000 and a carrying value of $15,000 to Poe for $36,000. The equipment had a remaining life of three years and was depreciated using the straight-line method by both companies.

2. During 20X1, Shaw sold merchandise to Poe for $60,000, which included a profit of $20,000. At December 31, 20X1, half of this merchandise remained in Poe's inventory.

3. On December 31, 20X1, Shaw paid $91,000 to purchase 50% ($100,000) of the outstanding bonds issued by Poe. The bonds mature on December 31, 20X5, and were originally issued at par. The bonds pay interest annually on December 31 of each year, and the interest was paid to the prior investor immediately before Shaw's purchase of the bonds.