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Well Co . has a $ 2 0 , 0 0 0 receivable from Eight Co . and a $ 4 0 , 0 0

Well Co. has a $20,000 receivable from Eight Co. and a $40,000 receivable from Cotten Corporation. Well also has a $30,000 payable to Sloane Co. Well owns 80% of Eight, 45% of Cotten, and 55% of Sloane. Eight and Sloane are consolidated subsidiaries, and Cotten is an equity-basis investee. At what amounts should Well report these balances in the consolidated financial statements?
Receivables Payables
A. $40,000$0
B. $30,000,$30,000
C. $60,000,$30,000
D. $0 $0
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