Sky Corporation Owns 75 Percent of Earth Company's Stock

Sky Corporation owns 75 percent of Earth Company's stock. On July 1, 20X8, Sky sold a building to Earth for $33,000. Sky had purchased this building on January 1, 20X6, for $36,000. The building's original eight-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The equipment's residual value is considered negligible.
Based on the information provided, in the preparation of the 20X8 consolidated financial statements, building will be _____ in the eliminating entries.

A) debited for $33,000
B) debited for $36,000
C) credited for $36,000
D) debited for $3,000