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What are the steps for an inter company elimination? Let's assume a corporation with 4 entities, entitiy A, B, C, D. Each entity has a

What are the steps for an inter company elimination?

Let's assume a corporation with 4 entities, entitiy A, B, C, D. Each entity has a receivable and payable account to each of the other entities.

How would you utilize an elimination account to eliminate the inter company balances. Please explain in detail.

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