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In March 2020, Snale Ltd sold $12000 worth of inventories to Bat Ltd at a mark up of 20%. At 30 June 2020, $1200 of

In March 2020, Snale Ltd sold $12000 worth of inventories to Bat Ltd at a mark up of 20%. At 30 June 2020, $1200 of these inventories remained unsold by Bat Ltd.

Given a Tax rate of 30%, prepare the consolidation worksheet entry for this transaction as at 30 June 2020.

Sales DR ?

Cost of Sales CR ?

Inventories CR ?

DTA Dr ?

Income Tax Expense Cr ?

Please explain the calculations

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