Master Corporation owns 85 percent of Servant Corporation's voting shares. On January 1, 20X8, Master Corporation loaned $200,000 at 8 percent to Servant. During the year Servant paid $6,000 of interest and zero payments to the principle of the loan Based on the information given above, how much will Interest Receivable be credited in the Inter-company Loan Transaction Elimination Entry
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Master Corporation owns 85 percent of Servant Corporation's voting shares. On January 1, 20X8, Maste...
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