Pal holds 100% of the outstanding shares of Sal. On January 1, 2015, Parent transferred equipment to Sal for $95,000. The quipment had an origina cost of $130,000 and a net book value at the time of the transfer of $50,000 and a 5-year remaining life. Both Pal and Sal calculate depreciation using the straight-line method with no salvage value.

Required:
Prepare the elimination entries( journal entry format) that would be required for 2015, 2016, and 2017 in connection with the above referenced asset?