Aladdin Ltd owns all of the share capital of Genie Ltd. The income tax rate is 30%. The following transactions took place during the periods ended 30 June 2019 or 30 June 2020.

(i)In January 2020, Aladdin Ltd sells inventories to Genie Ltd for $15 000 in cash. These inventories had previously cost Aladdin Ltd $10 000, and remain unsold by Genie Ltd at the end of the period.

(ii)In February 2020, Aladdin Ltd sells inventories to Genie Ltd for $17 000 in cash. These inventories had previously cost Aladdin Ltd $12 000, and are on-sold externally on 2 April 2020.

(iii)In February 2020, Genie Ltd sells inventories to Aladdin Ltd for $22 000 in cash (original cost to Genie Ltd was $16 000) and half are on-sold externally by 30 June 2020.

(iv)In March 2020, Aladdin Ltd sold inventories for $10 000 to Zara Ltd, an external entity. These inventories were transferred from Genie Ltd on 1 June 2019. The inventories had originally cost Genie Ltd $6000, and were sold to Aladdin Ltd for $12 000.

Required

In relation to the above intragroup transactions, complete the adjusting journal entries for the consolidation worksheet at 30 June 2020. Only the adjusting entries need be shown.