Sturchio Company owns 30 percent of Raymond Company. In 20x1, Raymond Com- pany earned $120,000 and paid
Question:
Sturchio Company owns 30 percent of Raymond Company. In 20x1, Raymond Com- pany earned $120,000 and paid $80,000 in dividends. Prepare entries in journal form for Sturchio Company's records on December 31 to reflect this information. Assume that the dividends are received on December 3 1 . LO1
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