In May 20X7, a Parent Entity Sold Inventory to a Subsidiary

In May 20X7, a parent entity sold inventory to a subsidiary entity for $30 000. The inventory had previously cost the parent entity $24 000. The entire inventory is still held by the subsidiary at reporting date, 30 June 20X7. Ignoring tax effects, the adjustment entry in the consolidation worksheet at reporting date is:

A) $\begin{array} { l l l l } \text { Cash } & \mathrm { Dr } & 24,000 & \\\quad \text { Sales revenue } & \mathrm { Cr } & & 24,000 \\\text { Cost of sales } & \mathrm { Dr } & 24,000 & \\\quad \text { Inventory } & \mathrm { Cr } & & 24,000\end{array}$
B) $\begin{array} { l l l l } \text { Sales revenue } & \mathrm { Dr } & 24,000 & \\\quad \text { Cash } & \mathrm { Cr } & & 24,000 \\\text { Inventory } & \mathrm { Dr } & 24,000 & \\\quad \text { Cost of sales } & \mathrm { Cr } & & 24,000\end{array}$
C)
$\begin{array}{llr}\text { Sales revenue }& \mathrm{Dr}&30,000\\\text { Cost of sales } & \mathrm{Cr} & 6,000 \\\text { Inventory } & \mathrm{Cr} & 24,000\end{array}$
D) $\begin{array}{llr}\text { Sales revenue } & \mathrm{Dr} & 30,000\\\text { Cost of sales } & \mathrm{Cr} & 24,000 \\\text { Inventory } & \mathrm{Cr} & 6,000\end{array}$