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When parent is seller we make the following
Entry
DR COS
CR Investment in associateWhen associate is seller
Dr Share of profit in associate
CR InvSir can you pls explain the understanding behind these 2 entries?
Especially why investment in associate is credited?I very well remember in FR the entry was
Dr share of profit in associate
Cr Investment in associate
WHATEVER was the direction of sale
Kindly tell..thanks
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