Question: On January 1, 20X5, Block Corporation started using a wholly owned subsidiary to deliver all its sales overnight to its customers. During 20X5, Block recorded

On January 1, 20X5, Block Corporation started using a wholly owned subsidiary to deliver all its sales overnight to its customers. During 20X5, Block recorded delivery service expense of $76,000 and made payments of $58,000 to the subsidiary.

Required
Give the worksheet elimination entries related to the intercompany services needed on December 31, 20X5, to prepare consolidated financial statements.

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