On 1^st July 2021 Jensen Ltd acquired 80% of the issued shares of Interceptor Ltd for $315,200. The equity of Interceptor Ltd at that date comprised:

Share capital (250,000 ordinary shares) $250,000

Retained earnings 49,375

General reserve 100,000

The assets and liabilities of Interceptor Ltd were all valued at fair value except for:

	Carrying amount	Fair value
Land	$230,000	$250,000
Machinery (cost $187,500)	125,000	150,000
Inventory Additional information	81,250	100,000

The machinery, which a remaining life of 5 years, was sold on 1^st July 2022 for $175,000.

All the inventory held at 1^st July 2021 was sold in the year after acquisition.

All valuation adjustments were made by consolidation worksheet journal entries.

Interceptor Ltd had the following transactions during the years to 30^th June 2022 and 30^th June 2023.

2022
January	17 Paid an interim dividend $10,000. $5,000 being funded out of pre-acquisition profits.
April	Sold inventory to Jensen Ltd with a sale price of $62,500 at a pre-tax profit of 1 $12,500.
June	23 Declared a final dividend of $18,750.
	30 Half of the inventory sold to Jensen Ltd on April 1st was still on hand.
	30 Profit for the year amounted to $162,500.
August	12 Paid the final dividend declared in June.
2023
January	Sold equipment costing $25,000 to Jensen Ltd for $37,500. This attracts a 1 straight-line depreciation rate of 20%.
	17 Paid an interim dividend $20,000
June	23 Transferred $25,000 from the general reserve balance at 1st July 2021 to retained earnings
	30 Profit for the year amounted to $187,500.

It is group policy to account for dividends upon declaration. Assume a tax rate of 30%.

Required

Prepare the adjusting consolidation worksheet journal entries for the years ended 30^th June 2022 and 30^th June 2023.