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Assume that o December 31, 2019, Parent's Investment in Subsidiary account has a balance of $ 532,000. Also assume that Parent's 80% interest in Subsidiary
Assume that o December 31, 2019, Parent's Investment in Subsidiary account has a balance of $ 532,000. Also assume that Parent's 80% interest in Subsidiary has a fair value of $600,000. On January 1, 2020, Parent sells half (remaining 40%) of Subsidiary's shares for $375,000. How should Parent account for this transaction? Pass Journal Entry
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