On January 1, 20X5, Block Corporation started using a wholly owned subsidiary to deliver all its…

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.RequiredGive the worksheet elimination entries related to the intercompany services needed on December 31, 20X5, to prepare consolidated financial statements.View Solution:
On January 1 20X5 Block Corporation started using a wholly