spinifex pigeon company owned 90% of the outstanding stock of waterhole corporation. this interest was purchased on january 1, 2016 when waterhole books values were equal to its fair values. On January 2017, spinifex pigeon sold a truck with a book value of 37500 waterhole corporation for 40000, the equipment was estimated to have 4 remaining life on this date. all affiliates use the straight line depreciation method

requred: Prepare all relevant entries respect to the truck.

1. Record the journal entries on Spinifex books for 2017

2. Record the journal entries on Waterhole books for 2017

3. Record the consolidation working paper elimination entries for the year ended December 31.

Please, provide as much information as you can