Paulson Company owned a truck with an original cost of $12,000. It had been depreciated in the last 5 years on the straight-line method with 8 years of life and no salvage value. On January 1, 2016, Paulson sold the truck to Sally Corporation (a 75%-owned subsidiary) for $5,280. Prepare the working paper eliminating entry (in journal entry format) for the intercompany sale for Paulson Company and subsidiary for the years ended December 31, 2016 and 2017.