Intercompany Receivables and Payables Polychromasia, Inc. had a number of receivables from subsidiaries at the balance sheet date, as well as several payables to subsidiaries. Of its five subsidiaries, four are consolidated in the financial statements (Green Company, Black Inc., White & Sons, and Silver Company). Only the Brown Company is not consolidated with Polychromasia and the other affiliates. The following list of receivables and payables shows balances at December 31, 2006. LO7 Interest Receivable from the Brown Company $50,000 Interest Payable to Black Inc. 75,000 Intercompany Payable to Silver Company 105,000 Long-Term Advance to Green Company 150,000 Long-Term Payable to Silver Company 450,000 Long-Term Receivable from Brown Company 500,000 Required:

A. Show the classification and amount(s) that should be reported in the consolidated balance sheet of Polychromasia, Inc. and Subsidiaries at December 31, 2006 as receivable from subsidiaries.

B. Show the classification and amount(s) that should be reported in the consolidated balance sheet of Polychromasia, Inc. and Subsidiaries at December 31, 2006 as payable to subsidiaries.