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XYZ Inc., a US based company, has an Australian based subsidiary ABC Company. * XYZ Inc. just paid an expense for ABC Company that will

XYZ Inc., a US based company, has an Australian based subsidiary ABC Company. * XYZ Inc. just paid an expense for ABC Company that will be paid back at a future date. How should this show on the balance sheet? An increase to a liability account, Due to ABC Company An increase to an asset account, Due from ABC Company An increase to Accounts Payable Not recorded on the balance sheet, instead it is recorded on the profit

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