Plank owns 100% of Scent. Both companies have significant sales to external customers. Plank and Scent Company had the following intercompany transaction during 20X2: Scent sold inventory to Plank for $240,000. Scent's had cost of $192,000 for the items sold to Plank. Park had $60,000 of this inventory remaining on hand at December 31, 20X2 There were no transactions with affiliated entities prior to 20x2. 1. What credit (reduction) should the consolidating worksheet entries make to consolidated sales revenue? 2. Assume for this part of the question only, that Plank owns 80% of Scent instead of 100%. What credit (reduction) should the consolidating worksheet entries make to consolidated sales revenue