S paid $16,200 for a 90% interest in C Corporation on January 1, 2020, when C's stockholders' equity consisted of $9,000 Capital Stock, APIC of $1,000, and $1,000 of Retained Earnings. The excess cost over book value was attributable to the goodwill, which has not been impaired since the acquisition date.

The following occurs:

1. S sells merchandise to C at 120% of S's cost. In 2020, S's sales to C were $4,800, of which half of the merchandise remained in C's inventory on December 31, 2020. (The 2020 ending inventory was sold in 2023.) In 2023, S sales to C were $6,000 of which 50% remained in C's inventory at December 31, 2023. At year-end 2023, C owed S $5,000 for the inventory purchased during 2023.

2. S Corporation sold equipment with a book value of $2,000 and a remaining useful life of four years and no salvage value to C Corporation on January 1, 2023, for $2,800. Straight-line depreciation is used.

3. During 2023, C sold to S land for $100,000 that had a book value of $40,000. S still owns the land on 12/31/23.

Record the Journal Entries for S.