If ABC Company sells engineering services to its wholly-owned subsidiary XYZ Corporation during the year for $75,000, the entry to properly report
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If ABC Company sells engineering services to its wholly-owned subsidiary XYZ Corporation during the year for $75,000, the entry to properly report the transaction in the consolidated financial statements would:a. Reduce engineering revenue and increase engineering expenseb. Reduce engineering revenue and reduce engineering expensec. Increase engineering revenue and reduce engineering expensed. Increase engineering revenue and increase engineering expense
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