1.(TCO 3) Kordel Inc. holds 75% of theoutstanding common stock of Raxston Corp.

1.(TCO 3) Kordel Inc. holds 75% of theoutstanding common stock of Raxston Corp. Raxston currently owesKordel $500000 for inventory acquired over the past few months. Inpreparing consolidated financial statements what amount of thisdebt should be eliminated? (Points : 5)