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Hi,
Im not sure about the journal entries of this statement:
The difference in the current accounts is due to inventories (at cost) sent by Sing to Dance which is still in transit.Recorded in Sing – Current account ( sing) = 30 current liabilities
Recorded in Dance – current account (dance) = 35 current assetsInventories of sing = 200
Inventories of dance = 59Sing is parent company
Dance is subdiary company
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