Required information

Pancake Corporation purchased land on January 1, 20X0, for $60,000. On August 7, 20X2, it sold the land to its subsidiary, Syrup Corporation, for $35,000. Pancake owns 60 percent of Syrup's voting shares.

Based on the preceding information, what will be the worksheet consolidation entry to remove the effects of the intercompany sale of land in preparing the consolidated financial statements for 20X2?

A.	Land	15,000
	Loss on Sale of Land		15,000
B.	Land	25,000
	Loss on Sale of Land		25,000
C.	Loss on Sale of Land	15,000
	Land		15,000
D.	Loss on Sale of Land	25,000
	Land		25,000