[suremail13]

….No, the sale was made so the profit was made, regardless of whether the money was actually paid yet. The receivable/payable balances will be contra’d in the consolidated accounts, but the revenue/profit will remain in the seller’s individual accounts….

I got the clarification i needed from this. Thanks,

[suremail13]

Thank you!

Just a reaffirmation of what you said..
Any sale before acquisition between the group that is sitting as Accounts Receivable/payable would get wiped off as well on consolidation, right?

[Author]

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