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1. Tristan owns 40% of Lamp and has a balance in its Investment Account of $240.000. On January 1, 2020 Tristan purchases an additional 20%

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1. Tristan owns 40% of Lamp and has a balance in its Investment Account of $240.000. On January 1, 2020 Tristan purchases an additional 20% of Lamp for $150,000 cash. In addition to the entry, Dr. Investment $150,000 and Cr. Cash $150,000 what additional journal entry by Tristan is required. Show account names and amounts (hint: revalue the original 40% ownership interest of Tristan)

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