Question: Please help me! Cloe purchased Able and Baker in net asset acquisitions a few years ago. They are now Cloe's internal divisions. Able purchased equipment

Please help me!

Please help me! Cloe purchased Able and Baker in net asset acquisitions

Cloe purchased Able and Baker in net asset acquisitions a few years ago. They are now Cloe's internal divisions. Able purchased equipment for $100,000 shortly after being acquired by Cloe, and has recorded $40,000 of depreciation since that time. Able sold the equipment to Baker for $90,000 on 1/1/17. Equipment has a remaining useful life of 10 years. What are the journal entries for Cloe in year 2017 and the years afterwards? Cloe's books 2017 2018 2019

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