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Prepare the consolidation elimination journal entry for year

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Reference no: EM132662494

The following account balances existed at 30 June 2020:

                                Sun Ltd               Moon Ltd

Dividend revenue$           18 000                    -

Dividend declared        $ 77 900             $ 9 000

Dividend receivable     $ 6 200                   -

Dividend payable        $ 50 000              $ 2 000

Problem 1: Prepare the consolidation elimination journal entry for the year ending 30 June 2020.

Reference no: EM132662494

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