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55. Wright Corp. has several subsidiaries that are included in its consolidated financial statements. In its December 31, year 1 trial balance, Wright had the
55. Wright Corp. has several subsidiaries that are included in its consolidated financial statements. In its December 31, year 1 trial balance, Wright had the following interentity balances before eliminations: Current receivable due from Main Co. Noncurrent receivable from Main Cash advance to Corn Corp. Cash advance from King Co. Intercompany payable to King Debit Credit $ 32,000 114,000 6,000 $ 15,000 101,000 In its December 31, year 1 consolidated balance sheet, what amount should Wright report as interentity receivables? A. $152,000 B. $146,000 C. $36,000 D. $0
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