The 20X1 unrealized gain from the intercompany sale:

Select one:

a.

should be recognized in consolidation in 20X1 by a working paper entry

b.

should be eliminated from consolidated net income by a working paper entry that credits land for $14,000

c.

should be eliminated from consolidated net income by a working paper entry that debits land for $14,000

d.

should be eliminated from consolidated net income by a working paper entry that credits gain on sale of land for $14,000