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Adams owns 80% of Williams and has a carrying value of the investment at January 1, 2020, of $600,000. On that date, Adams sells 20%

Adams owns 80% of Williams and has a carrying value of the investment at January 1, 2020, of $600,000. On that date, Adams sells 20% of its investment for $150,000 reducing its ownership to 60%. What journal entry is recorded by Williams at that date?

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