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Selected accounts from the year - to - date financial statements for Garcia Company and its wholly owned subsidiary, Cornwall Ltd . , were follows:
Selected accounts from the yeartodate financial statements for Garcia Company and its wholly owned subsidiary, Cornwall Ltd were follows: New Transaction Garcia had a cash sale of $ to Cornwall at its regular gross margin of of sales and accrued income tax at its tax rate of : This was the only intercompany transaction this year. Required: Determine the account balance for each account on the three financial statements after the new transaction is recorded. Input all amounts as positive values. Omit $ sign in your response.
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