ABC Corporation is wholly owned by Golden. During the current year, the two corporations filed a consolidation financial statements, a portion of the financial statement is as following: Golden ABC Consolidated Balance sheet accounts Accounts receivable Inventory Income statement accounts Revenue Cost of goods sold $60,000 60,000 $70,000 50,000 $125,000 $100,000 $420,000 (300,000) $250,000 (220,000) $600,000 (460,000) UOG-Advanced Accounting Gross profit 120,000 30,000 140,000 Assuming Golden sold inventory to ABC on the profit rate Golden uses in normal inventory sale. Determine the amount of Golden's receivable which is attributed to intercompany sales in the year end? A. $70,000 B. $60,000 C. $5,000 D. $10,000