For each of the following independent intra-group transaction scenarios, assume that the consolidation process is done on 31 December 2020. Required: Prepare the necessary consolidation journal entries in each scenario. Pellegrino Ltd owns 80% share capital of Sparkling Ltd. The tax rate is 30%. (narrations are not required). Scenario 2: During the year ended 31 December 2019, Sparkling Ltd purchased goods from Pellegrino Ltd for $500,000 which originally cost Pellegrino Ltd $400,000. By 31 December 2019, Sparkling Ltd has sold 70% of these goods to other parties. During the financial year ended 31 December 2020. Sparkling Ltd had managed to sell all the remaining balance of these goods to parties outside of the group. ANSWER HERE: Date (3 marks) Credit Account Name Debit