Parent owns 100% of Sub. At the end of year 3, Sub owns a truck with a cost of $80,000 and accumulated depreciation of $30,000. The truck was originally expected to last 8 years, with no salvage value, and the Sub has depreciated it at $10,000 per year. On Day 1, Year 4, Sub sells the truck to Parent for $55,000 in cash. The truck is still expected to last only until the end of Year 8. Parent continues to own the truck throughout years 4 through 8, when it is disposed of.

1. What entry would Sub make on its own books Day 1, Year 4, to record this intercompany sale?
2. What entry, if any, would need to be made in consolidation at the end of Year 4 with regard to this truck?
3. What entry, if any, would need to be made in consolidation at the end of Year 5 with regard to this truck?
4. What entry, if any, would need to be made in consolidation at the end of Year 10 with regard to this truck?