Powder Company spent $240,000 to acquire all of Sawmill Corporation's stock on January 1, 20X2. The balance sheets of the two companies on December 31, 20X3, showed the following amounts:

	Powder Company					Sawmill Corporation
Cash		$	30,000				$	20,000
Accounts Receivable			100,000					40,000
Land			60,000					50,000
Buildings & Equipment			500,000					350,000
Less: Accumulated Depreciation			(230,000	)				(75,000	)
Investment in Sawmill Corporation			252,000
		$	712,000				$	385,000
Accounts Payable		$	80,000				$	10,000
Taxes Payable			40,000					70,000
Notes Payable			100,000					85,000
Common Stock			200,000					100,000
Retained Earnings			292,000					120,000
		$	712,000				$	385,000

Sawmill reported retained earnings of $100,000 at the date of acquisition. The difference between the acquisition price and underlying book value is assigned to buildings and equipment with a remaining economic life of 10 years from the date of acquisition. Assume Sawmill's accumulated depreciation on the acquisition date was $25,000. Required: a. Prepare the appropriate consolidation entry or entries needed to prepare a consolidated balance sheet as of December 31, 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

A) Record the basic consolidation entry.

B) Record the excess value (differential) reclassification entry.

C) Record the optional accumulated depreciation consolidation entry.