The following intercompany transactions occurred during the year: Parent loaned $200 to Sub. To keep things simple, assume that there is no interest revenue or interest expense associated with this loan. Parent made a sale to Sub for $300 cash. The inventory had originally cost Parent $220. Sub then sold that same inventory to an outsider for $400. Parent made a sale to Sub for $500 cash. The inventory had originally cost Parent $280. Sub has not yet sold that same inventory to an outsider. (Don Solution a Loan Payable $ 200.00 Loan Receivable $ 200.00 b Parent: Cash $ 300.00 Sales $ 300.00 COGS $ 220.00 Inventory $ 220.00 Sub: Inventory $ 300.00 Cash $ 300.00 c Parent: Cash $ 500.00 Sales $ 500.00 COGS $ 280.00 Inventory $ 280.00 Sub: Inventory $ 500.00 Cash $ 500.00 .