16. On January 1, 20X8, Blake Company acquired all of Frost Corporation's voting shares for $280,000 cash. On December 31, 20X9, Frost owed Blake $5,000 for services provided during the year. When consolidated financial statements are prepared for 20X9, which entry is needed to eliminate intercompany receivables and payables in the consolidation worksheet?

A)	Accounts Payable	5,000
	Accounts Receivable		5,000
B)	Accounts Receivable	5,000
	Accounts Payable		5,000
C)	Retained Earnings	5,000
	Accounts Receivable		5,000
D)	Consolidating entry not required

A. Option A B. Option B C. Option C D. Option D