Recording journal entries
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12. Medium Lisa Co. paid cash for all of the voting common stock of Victoria Corp. Victoria will continue to exist as a separate corporation. Journal entries for the consolidation of Lisa and Victoria would be recorded in
A) a worksheet.
B) Lisa's general journal.
C) Victoria's general journal.
D) Victoria's secret consolidation journal. (Who says accountants can't tell jokes?)
E) the general journals of both companies.
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Solution Summary
The solution tells us where the journal entries are recorded
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