On June 10, 20X8, Game Corporation acquired 70 percent of Amber Companys common stock. The fair value of the noncontrolling interest was $24,000 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as follows:

		Game Corp.			Amber Company
Item		Book Value		Book Value		Fair Value
Cash		$	27,800	$	9,000	$	9,000
Accounts Receivable			38,000		14,000		14,000
Inventory			89,000		24,000		29,000
Buildings & Equipment (net)			126,000		54,000		74,000
Investment in Amber Stock			56,000
Total		$	336,800	$	101,000	$	126,000
Accounts Payable		$	16,000	$	2,000		2,000
Bonds Payable			206,800		44,000		44,000
Common Stock			47,000		19,000
Retained Earnings			67,000		36,000
Total		$	336,800	$	101,000	$	46,000

a. Record the consolidation entries required to prepare a consolidated balance sheet immediately after the purchase of Amber Company shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. Record the basic consolidation entry.

2. Record the excess value (differential) reclassification entry.