Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On January 1, 20X5, Pitcher received $245,000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $300,000. The truck is expected to have a 10-year useful life and no salvage value. Both companies depreciate trucks on a straight-line basis. Required: a. Prepare the worksheet consolidation entry or entries needed at December 31, 20X5, to remove the effects of the intercompany sale, (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) . No Event Credit Answer is complete but not entirely correct. Accounts Gain on sale Truck Accumulated depreciation Debit 35,000 55,000 90,000 108,000 X Accumulated depreciation Depreciation expense 108,000 b. Prepare the worksheet consolidation entry or entries needed at December 31, 20X6, to remove the effects of the intercompany sale. (If no entry is required for a transaction/event, select ":No journal entry required in the first account field.) Answer is complete but not entirely correct. No Event Credit Accounts Investment in Softball Corporation Truck Accumulated depreciation Debit 65,000 55,000 120,000 $ 30,000 Accumulated depreciation Depreciation expense 30,000