XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month
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XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March: 1. XYZ Limited paid rent $1000 to ABC Limited for the month of March. 2. XYZ Limited declared a dividend of $1,500 to ABC Limited. 3. XYZ Limited paid the dividend to ABC Limited declared on 2nd March. 4. ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month. 5. ABC Ltd issues 10 $100 debentures with an interest rate of 15% p.a. payable on 15 March of each year to XYZ Limited.
Required: Provide consolidation worksheet adjusting entries for each of the transactions listed above.
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