On January $1,2024,$ Joey Co$.$ sold to Legoria Co$.$ equipment it had purchased for

$$150,000$ and used for eight years to Legoria Co$.$ an recorded a Gain of $$14,000$ on the

sale.

The equipment had a total useful life of $15$ years, with no salvage value and is

depreciated on a straight$-$line basis. Joey Co$.$ owns $70\%$ of the common stock of Legoria

Co$.$ Joey Co$.$ uses the Equity Method to account for its investment in Legoria Co$.$

Give the journal entry made by Joey

Co$.$to record the sale of equipment to

Legoria Co$.$

Give the journal entries recorded by Legoria Co$.$ to record the purchase of the

equipment and to record Depreciation expense.

Give the Consolidation entry or entries needed related to the intercompany Sale of

equipment at December $31,2024$ in order for the Consolidated Financial

statements to be prepared

For a possible $+2$ bonus on the HW$,$ Give the Consolidation entry or entries

needed related to the intercompany Sale of equipment at December $31,2025$ in

order for the Consolidated Financial statements to be prepared