Planner Corporation owns 60 percent of Schedule Companys voting shares. During 20X3, Planner produced 31,000 computer desks at a cost of $86 each and sold 16,000 of them to Schedule for $98 each. Schedule sold 10,000 of the desks to unaffiliated companies for $136 each prior to December 31, 20X3, and sold the remainder in early 20X4 for $146 each. Both companies use perpetual inventory systems.

Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December 31,203, relating to the intercorporate sale of inventory. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Consolidation Worksheet Entries Record the consolidation entry for the intercorporate sale of inventory. Note: Enter debits before credits. Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December 31,204, relating to the intercorporate sale of inventory. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Consolidation Worksheet Entries Record the consolidation entry for the intercorporate sale of inventory. Note: Enter debits before credits. Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December 31,204, relating to the intercorporate sale of inventory if the sales were upstream. Assume that Schedule produced the computer desks at a cost of $86 each and sold 16,000 desks to Planner for $98 each in 203, with Planner selling 10,000 desks to unaffiliated companies in 203 and the remaining 6,000 in 204. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Consolidation Worksheet Entries Record the consolidation entry for the intercorporate sale of inventory. Note: Enter debits before credits