Paragraph Corporation purchased land on January $1,20$X$1,$ for $$22,000.$ On June $10,20$X$4,$ it sold the land to its subsidiary, Sentence Corporation, for $$31,500.$ Paragraph owns $60$ percent of Sentence$$s voting shares.

B$.$ Prepare the worksheet consolidation entries needed on December $31,20$X$4$ and $20$X$5,$ if Sentence had initially purchased the land for $$22,000$ and then sold it to Paragraph on June $10,20$X$4,$ for $$31,500.$

$$ Record the consolidating entry on December $31,20$X$4.$

$$ Record the consolidating entry on December $31,20$X$5.$