Short Products Corporation, a manufacturer of electronics gear, established a separate branch in another city in 19X6. During 19X6, Short produced inventory for $200,000 and sold it to the branch for $280,000. The branch sold 25 percent of the inventory in 19X6 for $105,000 and 75 percent in 19X7 for $350,000. Both Short and its branch used perpetual inventory systems.RequiredA. Give all journal entries related to the inventory transfers during 19X6 recorded on the books of Short Products Corporation's (1) home office and (2) branch.B.Give the eliminating entries needed on December 31, 19X6, to remove the effects of the inventory transfer in preparing financial statements for Short Products Corporation