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4. Parent purchases additional shares of stock (10 points) Harvey Company increased its ownership in Washington Company from 70% to 80% by the purchase or
4. Parent purchases additional shares of stock (10 points) Harvey Company increased its ownership in Washington Company from 70% to 80% by the purchase or additional shares of the Washington's outstanding stock from noncontrolling shareholders for a purchase price of $300,000. Immediately prior to the transaction. Harvey's consolidated balance sheet included a noncontrolling interest balance of $1,000,000 Prepare the journal entry to record the purchase of additional shares
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