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During year 2005, Subsidiary Ltd made sales of inventory to Father Ltd for on- sale to external parties. The inventory had originally cost Subsidiary...

During year 2005, Subsidiary Ltd made sales of inventory to Father Ltd for on- sale to external parties. The inventory had originally cost Subsidiary Ltd $24,000. All intra-group inventories were sold in 2005.  


Intragroup sales of inventory are at a mark-up of 20% on cost. 


What is the consolidation elimination journal entry for 2005?

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