covered inter-company accounting transactions as they pertain to merchandise, plant assets, notes, and inter-company long-term construction contracts. Select one of the topics, and explain in 200 words or more how the actual accounting procedures take place. Also, identify some of the issues that the accountant may face on the topics above. For example, you may want to explain how long-term construction contracts are accounted for and some of the issues that are faced for financial reporting purposes. Please also select, whenever possible, a different topic than your classmate has taken in order to avoid duplication of answers.