How Should An Intercompany Account Be Categorized (asset/liability) On The Trial Balance?

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Aisha answered
Intercompany Account is a General ledger account that is used for recording a transaction between related companies like affiliates or subsidiaries. You are right as you would have to create an Intercompany Account. These are actually reciprocal records between the entities in their general ledgers. You can record the trial balance in heads such as Intercompany receivables and payables, intercompany sales and purchases etc.

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