QUESTION 4 27 polt Georgia is the assistant accountant for the Spring Ltd group Georgia has recorded the following entries in the consolidation worksheet for the year ended 30 je a) Spring Ltd issued 1000 8% debentures of $60 at nominal value to its subsidiary company in May 2019. Interest is payable yearly each year on 30 September tax rate of 30 Credit (5) Consolidation entry 30 June 2021: Account name Interest Payable Interest Receivable Debit (5) 4,800 4,800 b) Spring Ltd sold inventory to its subsidiary company on 1 April 2020 for $25,000. This inventory cost Spring Ltd 515,000. The subsidiary plans to use this inve plant. The subsidiary charges depreciation at a rate of 10% on costi Consolidation entry 30 June 2021: Account name Debit (5) Credit (5) Proceeds on sale of Plant 25,000 Carrying amount of Plant sold 15,000 10,000 Inventory