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ParCorp owns 100% of ChiCorp's common stocks. ChiCorp owes ParCorp $10K. In no more than 10 words, explain why intra-group accounts receivable and accounts payable

ParCorp owns 100% of ChiCorp's common stocks. ChiCorp owes ParCorp $10K. In no more than 10 words, explain why intra-group accounts receivable and accounts payable must be eliminated in consolidation.

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