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Identify the amounts AND accounts that would be eliminated when preparing consolidated financial statements if Ace, Inc. owns 90 percent of Becker, Inc. and bought

Identify the amounts AND accounts that would be eliminated when preparing consolidated financial statements if Ace, Inc. owns 90 percent of Becker, Inc. and bought $300,000 of Becker's inventory in yr 1. The transfer price was equal to 30 percent of the sales price. Be sure to show all work to receive full credit

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