A subsidiary provides services costing it $400,000 to its parent during the current year. The subsidiary charges the parent $750,000 for the services. The parent owes $50,000 for these services at year-end. Year-end consolidation eliminating entries for this transaction include: Debit accounts payable $50 Debit services expense $350 Debit services revenue $400 Debit services revenue $750

A subsidiary provides services costing it $400,000 to its parent during the current year. The subsidiary charges the parent $750,000 for the services. The parent owes $50,000 for these services at year-end. Year-end consolidation eliminating entries for this transaction include: Debit accounts payable $50 Debit services expense $350 Debit services revenue $400 Debit services revenue $750