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Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1,20X1On December...

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Accounting

Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1,20X1On December 31,20 Pitcher received $273,000 from Softball for a truck Pitcher had purchased on January 120X2for $333,000 The truck is expected have a 10year useful life and no salvage valueBoth companies depreciate trucks on a straightline basis Required: Prepare the worksheet consolidation entry or entries needed at December 3120X5, to remove the effects of the intercompany sale

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