Playoff Corporation holds 90 percent ownership of Serles Company. On July 1,203. Playoff sold equipment that it had purchased for $42,000 on January 1,201, to Series for $39,000. The equipment's original six-year estimated total economic life remains unchanged. Both companles use straight-Ine depreclation. The equipment's residual value is considered negligible. Required: a. Prepare the consolidation entry or entrles in the consolidation worksheet prepared as of December 31 , 203, to remove the effects of the Intercompany sale. (If no entry Is requlred for a transaction/event, select "No Journal entry required" In the first account fleld. Round your answers to nearest dollar.) Requlred: a. Prepare the consolidation entry or entrles in the consolidation worksheet prepared as of December 31 , 203, to remove the effects of the Intercompany sale. (If no entry is requlred for a transaction/event, select "No Journal entry required" In the first account fleld. Round your answers to nearest dollar.) Consolidation Worksheet Entries Record the entry to eliminate the gain on the equipment and to correct the asset's basis. Note: Enter debits before credits. Required: a. Prepare the consolidation entry or entrles in the consolidation worksheet prepared as of December 31,203, to remove the effects of the Intercompany sale. (If no entry Is requlred for a transaction/event, select "No journal entry required" In the first account fleld. Round your answers to nearest dollar.) Consolidation Worksheet Entries Record the entry to adjust Accumulated Depreciation. b. Prepare the consolidation entry or entrles in the consolidation worksheet prepared as of December 31 , 204, to remove the effects of the Intercompany sale. (If no entry is requlred for a transaction/event, select "No Journal entry required" In the first account field. Round your answers to nearest dollar.) Consolidation Worksheet Entries Record the entry to adjust Accumulated Depreciation. Note: Enter debits before credits. b. Prepare the consolidation entry or entrles In the consolidation worksheet prepared as of December 31 , 204, to remove the effects of the Intercompany sale. (If no entry Is requlred for a transaction/event, select "No Journal entry required" In the first account fleld. Round your answers to nearest dollar.) Consolidation Worksheet Entries Record the entry to eliminate the gain on the equipment and to correct the asset's basis. Note: Enter debits before credits