Question: [ AICPA Adapted ] At December 3 1 , 2 0 X 9 , Grey Incorporated owned 9 0 percent of Winn Corporation, a consolidated

[AICPA Adapted] At December 31,20X9, Grey Incorporated owned 90 percent of Winn Corporation, a consolidated subsidiary, and 20 percent of Carr Corporation, an investee in which Grey cannot exercise significant influence. On the same date, Grey had receivables of $300,000 from Winn and $200,000 from Carr. In its December 31,20X9, consolidated balance sheet, Grey should report accounts receivable from its affiliates of
Multiple Choice
$500,000.
$340,000.
[ AICPA Adapted ] At December 3 1 , 2 0 X 9 ,

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