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4- (Valor 10 puntos) On January 1, 2007, Pennington Corporation purchased 427 of the common shares of Edwards Company for $580.500. During the year. Edwards

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4- (Valor 10 puntos) On January 1, 2007, Pennington Corporation purchased 427 of the common shares of Edwards Company for $580.500. During the year. Edwards earned net income of $298.000 and paid dividends of $63.000 Instructions Prepare the entries for Pennington to record the purchase and any additional entries related to this investment in Edwards Company in 2007 GENERAL JOURNAL PAGE 1 DATE DESCRIPTION CREDIT PR DEBIT

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