Pleasant Corporation (Pleasant) acquired 80% of the voting shares of Sad Ltd. (Sad) on January 1, Year 5. On Pleasant's December 31, Year 5, its accounts receivable contained a receivable of $20,000 from Sad. Which of the following statements pertaining to the intercompany receivable is correct? Question 12Select one: a. It is not necessary to eliminate the $20,000 intercompany receivable and payable during the consolidation process because the overall effect on consolidated net assets is nil. b. The intercompany receivables and payables are both reduced by $16,000 [(80%)($20,000)] in the consolidation process. c. The noncontrolling interest (balance sheet) is reduced by $4,000 [(20%)($20,000)] d. Both accounts receivable and payables on the consolidated