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Cross‐referencing is used when there is a direct relationship between two accounts on the statement of financial position. For example, among the current assets, the following might be shown if $1,500,000 of accounts receivable were pledged as collateral for a $1,200,000 bank loan.

Example—Cross‐References to Other Line Items

Accounts receivable pledged as collateral on bank loan payable

$1,500,000

Included in the current liabilities would be the following:

Bank loan payable—collateralized by accounts receivable

$1,200,000