Multiple Choice
On January 1,20X8,Blake Company acquired all of Frost Corporation's voting shares for $280,000 cash.On December 31,20X9,Frost owed Blake $5,000 for services provided during the year.When consolidated financial statements are prepared for 20X9,which entry is needed to eliminate intercompany receivables and payables in the consolidation worksheet?
A) Option A
B) Option B
C) Option C
D) Option D
Correct Answer:
Verified
Correct Answer:
Verified
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