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4Per Commy purchases 45.000 shares of its strategic partner for $15 per share on July 20, 2020. This represents 40% of its partner's outstanding shares.
4Per Commy purchases 45.000 shares of its strategic partner for $15 per share on July 20, 2020. This represents 40% of its partner's outstanding shares. On October 1, 2020, the partner declares and pays a $2.25 per share cash dividend on December 31, 2020 the partner reports $235,000 in net income. Provide the journal entry intormation for the designated accounts on October 1 and December 31 for 49er Company Do not include "s" signs in your answer and use "OR" to designate a debit entry and "CR" to designate a credit entry. Round answers to the nearest whole dollar. If an account does not have an entry amount, enter a "O" for the amount and "NA" for the debit/credit designation. Account Name Entry Amount DR/CR/NA October 1 Dividend Revenue 3 Equity Investments December 31 Dividend Revenue $ Equity Investment $
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