On January 2, 2012, PT Koalisi acquired 75% shares of PT Partai for Rp. 5 billion. There is no differential arising from this acquisition. PT Koalisi uses the equity method to record investments in PT Partai. On March 1, 2012, PT Partai sold a plot of land valued at IDR 300,000,000 to PT Koalisi at a price of IDR 280,000,000 in cash. On October 1, 2014, PT Koalisi resold the land to a non-affiliated party for Rp.350,000,000

Meanwhile, on July 1 2014, PT Koalisi sold a vehicle to PT Partai. The vehicle was purchased by PT Koalisi on July 1, 2012 for Rp.200,000,000 with an estimated useful life of five years and a residual value of Rp.50,000,000. the vehicle was purchased by PT Partai from PT Koalisi for Rp.150,000,000. PT Partai estimates that the remaining useful life of the car is two years and a residual value of Rp. 50,000,000. PT Koalisi and PT Partai use the straight-line depreciation method.

Required:

1. Make elimination journal entries for December 31, 2012, 2013 and 2014 regarding the sale of land from PT Partai to PT Koalisi!

2. Make elimination entries for December 31, 2014 regarding the sale of cars from PT Koalisi to PT Partai!