On 1 July 2015, Fred Ltd acquired all the issued shares of Ginger Ltd. The following information relates to the inter entity transactions that have occurred between Fred and Ginger to June 2017.

Inter entity Transactions

(a)Fred Ltd sells certain raw materials to Ginger Ltd to be used in its manufacturing process.At 1 July 2016, Ginger Ltd held inventory sold to it by Fred Ltd in the previous year at a profit of $600. During the 2016-17 year, Fred Ltd sold inventory to Ginger Ltd in the current year for $21 000. None of this was on hand at 30 June 2017.

(b)Ginger Ltd also sells items of inventory to Fred Ltd. During the 2016-17 year, Ginger Ltd sold goods to Fred Ltd for $4500. At 30 June 2017, inventory which had been sold to Fred Ltd at a profit of $300 was still on hand in Fred Ltd's inventory.

(c)On 1 July 2016, Ginger Ltd sold an item of plant to Fred Ltd for $15 000. This plant had acarrying amount in the records of Ginger Ltd of $14 000 at time of sale. This type of plant isdepreciated at 10% p.a. on cost.

(d)On 1 January 2016, Fred Ltd sold an item of inventory to Ginger Ltd for $18 000. Theinventory had cost Fred Ltd$16 000. This item was classified by Ginger Ltd as plant. Plant of this type is depreciated by Ginger Ltd at 20% p.a.

(e)On 1 March 2017, Ginger Ltd sold an item of plant to Fred Ltd. Whereas Ginger Ltd classified this as plant, Fred Ltd classified it as inventory. The sales price was $9000 which included a profit to Ginger Ltd of $1500. Fred Ltd sold this to another entity on 31 March for $9900.

(f)The tax rate is 30%.

Required:

Prepare consolidation journal entries required at June 30 2017 to eliminate the effects of inter entity transactions between Fred and Ginger. Note: BCVR and preacquisition entries are NOT required for this question.