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  3. phone corporation owns 80 percent of smart company

Phone Corporation owns 80 percent of Smart Company's stock. At the end of 208, Phone...

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Accounting

Phone Corporation owns 80 percent of Smart Company's stock. At the end of 208, Phone and Smart reported the following partia operating results and inventory balances:
\table[[T-t-7--,\table[[Phone],[Corporation]],Smart Company],[\table[[Total sales],[Sales to Smart Company]],\table[[\table[[$679,000
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