On June $10,208,$ Playoff Corporation acquired $100$ percent of Serles Company's common stock. Summarized balance sheet data for the two companies immediately after the stock acquisition are as follows:

$\backslash$table$[[,$Playoff Corporation,Series Company$],[$Cash$,$$$15,000,$Book Value,Fair Value,$],[$Accounts Receivable,$30,000,$$$5,000,$$$5,000,],[$Inventory$,80,000,10,000,10,000,],[$Buildings and Equipment $($net$),120,000,20,000,25,000,],[$Investment in Series Company,$100,000,50,000,70,000,],[$Total$,$$$345,000,$$$85,000,$$$110,000,],[$Accounts Payable,$$25,000,$$$3,000,$$$3,000,],[$Bonds Payable,$150,000,25,000,25,000,],[$Common Stock,$55,000,20,000,,],[$Retained Earnings,$115,000,37,000,,],[$Total$,$$$345,000,$$$85,000,$$$28,000,]]$

Required:

a$.$ Prepare the consolidating entries required to prepare a consolidated balance sheet immediately after the acquisition of Series Company shares.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.