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ParCorp owns 100% of ChiCorp's common stocks. ChiCorp owes ParCorp $10K. ParCorp's journal entry in relation to its accounts receivable at consolidation date must include:
ParCorp owns 100% of ChiCorp's common stocks. ChiCorp owes ParCorp $10K. ParCorp's journal entry in relation to its accounts receivable at consolidation date must include:
Crediting accounts receivable for 10K | ||
Crediting accounts payable for 10K | ||
Debiting accounts payable for 10K | ||
None of the above |
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