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In 2014, Pop Corporation sold land that cost $20,000 to Minang Corporation, its 80 percent-owned subsidiary, for $30,000. Minang still owns the land at December
In 2014, Pop Corporation sold land that cost $20,000 to Minang Corporation, its 80 percent-owned subsidiary, for $30,000. Minang still owns the land at December 31, 2017. How will this transaction affect the consolidated account at December 31, 2017? Credit to gain on sale of land for $10,000 Debit to Investment in Minang account for $10,000 Credit to income from Minang for $10,000 None of the above
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