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1. Bellows Corp. had $100,000 in its Cash account on January1, 2010. On June 15, 2010, Bellows Corp. acquired 100 shares of Sonny, Inc. for
1. Bellows Corp. had $100,000 in its Cash account on January1, 2010. On June 15, 2010, Bellows Corp. acquired 100 shares of Sonny, Inc. for $75 per share. Assume that Bellows considers the stock as a security available for sale. Prepare the journal entry required to record this transaction and, after entering the beginning Cash account balance, post it to the appropriate T-accounts: 2. On September 15, 2010, Bellows Corp. received dividends from Sonny of $2 per share. Prepare the journal entry required to record this transaction and update the appropriate T- accounts: 3. At December 31, 2010, the value of the stock was $120 per share. Prepare the journal entry required to record this transaction and update the appropriate T-accounts: Computation of amount
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