Playoff Corporation holds 90 percent ownership of Series Company. On July 1, 20X3, Playoff sold equipment that it had purchased for $48,000 on January 1, 20X1, to Series for $46,000. The equipment's original six-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The equipment's residual value is considered negligible. Required: a. Prepare the consolidation entry or entries in the consolidation worksheet prepared as of Decembe 31, 20X3, 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. Round your answer: to nearest dollar.)