Fiona Ltd obtained control of Belinda Ltd on 1 January 20X2. The following items may require attention for group data adjustments: Belinda had shipped $50 000 of inventory to Fiona and issued the invoice to Fiona. As at control date, Fiona had not received or recognised this shipment. Fiona had made a $10 000 payment to Belinda for interest payment on an inter-company loan, but as of 1 January 20X2 Belinda had not received the payment. Belinda has an intangible copyright asset which is not recognised by Belinda but has a fair value of $80 000. The question refers to the consolidation worksheet prepared at control date. The consolidation adjustment entry for inventory would be:

Select one: a. Dr Inventory $50 000; Cr Retained profits $50 000

b. No entry is required

c. Dr Inventory $50 000; Cr Fair value reserve $50 000

d. Dr Inventory $50 000; Cr Accounts payable $50 00