Can someone walk me thru the entries required to book an intercompany receivable?

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Example, Division A incurred 50K expense on behalf of Division B...what are the entires necessary to allocate the expense to Division B?
Thanks

Division A:
Dr Intercompany AR
Cr Cash
Division B:
Dr Expense
Cr Intercompany AP

2007-03-26 04:37:30 · answer #1 · answered by Kerry 2 · 0⤊ 0⤋