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Advanced Financial Accounting with correct Question and Answered 2024 final exam A parent loans $100,000 to its subsidiary during 2014, at an annual interest rate of 4%. The subsidiary has not paid the interest at year-end. On the consolidation working paper, eliminating entries include all BUT which one of the following? Credit Interest Payable $4,000. (Explanation: 100,000x.04=4,000 Interest Expense (I-1) DR Loan Pay 100,000 CR Loan Rec. 100,000 (I-2) DR Int. Pay. 4,000 CR Int. ...