Plicher Corporation purchased $60$ percent of Softball Corporation's voting common stock on January $1,20$x$1.$ Or$\text{'}$ December $31,205.$ Pitcher recelved $$210,000$ from Sonball for a truck Pitcher had purchased on January $1,202,$ for $$300,000.$ The truck $15$ expected to have a $10-$year usefur life and no savage value. Both companies depreclate trucks on a straight$-$line basis:

Requlred:

a$.$ Prepare the worksheet consolidation entry or entrles needed at December $31,20$x$5,$ to remove the effects of the intercompany sale.

Noter if no entiy is required for a transactionvevent select $"$No joumal entry required" in the first account field.

$8$

b$.$ Prepare the worksheet conso dation entry or entrles needed at December $31,206,$ to remove the etrects of the intercompany sale.

Nate: If no entry is required for a transactionvevent select $"$No journal entry requlred" in the first account feld.

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Record the entry to eliminate the gain on the truck and to correct the asset's basis.

B Record the entry to adjust Accumulated Depreclation.