If a Parent Company and Its Subsidiary Have Accounts Receivable

question 78

Multiple Choice

If a parent company and its subsidiary have accounts receivable from mutually exclusive external sources in the amounts of $155,000 and $145,000, respectively, the consolidated balance sheet for the parent and its subsidiary will show:

• A)net accounts receivable of $10,000.
• B)only the parent's accounts receivable balance.
• C)one accounts receivable balance of $300,000.
• D)both amounts, but it will list them in two separate accounts.

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