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aragraph Corporation purchased land on January 1,201, for $26,500 On June 10,204, it sold the land to its subsidiary, Sentence orporation, for $30,500. Paragraph owns 60 percent of Sentence's voting shares. equired: 1. Prepare the worksheet consolidation entries needed to remove the effects of the intercompany sale of land in preparing the consolidated financial statements for 204 and 205 Note: If no entry is required for a transaction/event, select "No journol entry required" in the first account field. Consolidation Worksheet Entries Record the consolidating entry on December 31,204. Note: Enter debits before credits. Consolidation Worksheet Entries Record the consolidating entry on December 31,205. Note: Enter debits before credits. Prepare the worksheet consolidation entries needed on December 31,204 and 205, if Sentence had initially purchased the land for $26,500 and then sold it to Paragraph on June 10,204, for $30,500. Note: If no entry is required for o transoction/event, select "No journal entry required" in the first occount field. Consolidation Worksheet Entries B Record the consolidating entry on December 31,204. Note: Enter debits before credits. Prepare the worksheet consolidation entries needed on December 31,204 and 205, if Sentence had initially purchased the land for $26,500 and then sold it to Paragraph on June 10,204, for $30,500 Note: If no entry is required for a tronsoction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Fecord the consolidating entry on December 31,205. Note: Enter debits before credits

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