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During the current period, a subsidiary entity sold inventories to its parent entity at a loss of $6 000. The goods had originally cost the

During the current period, a subsidiary entity sold inventories to its parent entity at a loss of $6 000. The goods had originally cost the subsidiary $30 000. All the inventories were still on hand at the end of the year. The tax rate is 30%.

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Please complete the following worksheet entries required for the preparation of the consolidated financial statements in relation to the above intra-group transaction at the end of the current financial year.

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