Phobos Company holds $80$ percent of Simons Company's voting shares. During the preparation of consolidated financial statements for $209,$ the following consolidation entry was made:

Which of the following statements is correct?

Simons Company purchased land from Phobos Company during $209.$

Phobos Company purchased land from Simons Company during $209.$

Phobos Company purchased land from Simons Company before January $1,209.$

Simons Company purchased land from Phobos Company before January $1,209.$