[Anonymous]

2016 consolidated fs
Parent Company has AR from wholly owned sub of 500,000

Sub has AP of 900,00 and
have listed in AR 120,000 in invoices received from parent for which the inventory arrives in 2017.

make necessary corrections to sub fs and consolidation entry.

[Wannafree]

New AR of holding co would be zero and new AP of Sub will be 520,000.

[Author]

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