Question: On December 3 1 , 2 0 X 9 , Gorilla Inc. owned 8 5 % of Wawa Corp., and 1 5 % of Cara

On December 31,20X9, Gorilla Inc. owned 85% of Wawa Corp., and 15% of Cara Corp. As of that date, Gorilla had receivables from Wawa of $500,000 and from Cara of $220,000. On its December 31,20X9 consolidated balance sheet, Gorilla should report accounts receivable from affiliates of:
(THINK: what happens to intercompany accounts during consolidation?)
$400,000
$240,000
$150,000
$220,000

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