Business, 27.03.2021 03:50 btsheygirl

During 2020 Came Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2021. Nolan then used the inventory as collateral to borrow from Norwalk Bank remitting the proceeds to Carne. In 2021 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan. On whose books should the cost of the inventory appear at the December 31, 2020 balance sheet date? A) Came Corporation
B) Nolan Corporation
C) Norwalk Bank
D) Nolan Corporation, with Came making appropriate note disclosure of the transaction

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During 2020 Came Corporation transferred inventory to Nolan Corporation and agreed to repurchase the...