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P Ltd acquired 70% of S Ltd on 1 July 2019. On 1 January 2020, P Ltd sold a machine with a carrying amount of

P Ltd acquired 70% of S Ltd on 1 July 2019. On 1 January 2020, P Ltd sold a machine with a carrying amount of N$20,000 to S Ltd for N$30,000. The machine had a remaining useful life of 4 years and is depreciated on a straight-line basis. Required: Prepare consolidation journal entries for 31 December 2022 financial year

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