Pam Corporation holds $70$ percent ownership of Spray Enterprises. On December $31,20$X$6,$ Spray paid Pam $$32,500$ for a truck that Pam had purchased for $$37,500$ on January $1,20$X$2.$ The truck was considered to have a $10-$year life from January $1,20$X$2,$ and no residual value. Both companies depreciate equipment using the straight$-$line method.

Required:

A$)$ Prepare the worksheet consolidation entry or entries needed on December $31,20$X$6,$ to remove the effects of the intercompany sale.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

B$)$ Prepare the worksheet consolidation entry or entries needed on December $31,20$X$7,$ to remove the effects of the intercompany sale.

Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.