18 The elimination entry under the perpetual inventory system for intercompany sales is a debit to sales and a credit to Cost of goods sold Select one True False 21 Parents paid in capital ledger accounts always are eliminated in the preparation of a consolidated balance sheet for the parent company and the subsidiary Select one True False

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Question: 18 The elimination entry under the perpetual inventory system for intercompany sales is a debit to sales and a credit to Cost of goods sold

The elimination entry under the perpetual inventory system for intercompany sales is a debit to sales and a credit to Cost of goods sold

Select one: True False

Parents paid-in capital ledger accounts always are eliminated in the preparation of a consolidated balance sheet for the parent company and the subsidiary.

Select one: True False

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