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What is the correct elimination journal entry

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Question - Company A buys 5,000 units of inventory for a total of $10,000 from an unrelated third-party company. Later, Company A sells these units to its subsidiary, Company B, for $15,000 in an intercompany inventory transaction. Company B sells 3,000 of the 5,000 units to unrelated customers for $12,000 and holds the other 2,000 units in inventory until customers buy them in the future. What is the correct elimination journal entry to account for the intercompany inventory transfer?

Reference no: EM133017877

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