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ASAP!! The followig intercompany during the year: (a) Parent loaned $12500 to Sub. To keep things simple, assume that there is no interest revenue or

ASAP!!

The followig intercompany during the year:

(a) Parent loaned $12500 to Sub. To keep things simple, assume that there is no interest revenue or interest expense associated with this loan

(b) Parent made a sale to Sub for $13000 cash The inventory had originally cost Parent $12220 Sub then sold that same inventory to an outsider for $140.

What consolidation worksheet entries would you make?

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