Black Ltd owns all the shares in White Ltd. On 30 June 2021, White Ltd has dividend declared of $44,000 and dividend paid of $32,000 while Black Ltd has dividend declared of $71,000 and dividend paid of $60,000. What consolidation adjusting entry is required to eliminate the dividend payable on 30 June 2021?

Group of answer choices

Cr Dividend payable $115,000

Dr Dividend payable $44,000

No consolidation entries are required

Dr Dividend payable $71,000