Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December 31, 20X5, Pitcher received $252,000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $312,000. 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. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. view transaction list Consolidation Worksheet Entries A Record the entry to eliminate the gain on the truck and to correct the asset's basis. Note: Enter debits before credits. Event 1 Accounts Debit Credit Gain on sale Truck Accumulated depreciation Record entry Clear entry view consolidation entries > b. Prepare the worksheet consolidation entry or entries needed at December 31, 20X6, to remove the effects of the intercompany sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. view transaction list Consolidation Worksheet Entries A B Record the entry to eliminate the gain on the truck and to correct the asset's basis. Note: Enter debits before credits. Event 1 Accounts Debit Credit Record entry Clear entry view consolidation entries