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Assessing Financial Statement Effects of Passive Investments in Equity Securities 1. Ohlson Co. purchases 13,200 common shares of Freeman Co. at $16 cash per share.

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Assessing Financial Statement Effects of Passive Investments in Equity Securities 1. Ohlson Co. purchases 13,200 common shares of Freeman Co. at $16 cash per share. 2. Ohlson Co. receives a cash dividend of $1.25 per common share froman. 3. Year-end market price of Freeman common stock is $17.50 per share. 4. Ohlson Co. sells all 13,200 common shares of Freeman for $228,096 cash. a. Prepare journal entries to record the four transactions b. Post the journal entries to their respective T-accounts - Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account

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