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Assuming that the 4 2 , 0 0 0 shares represent a 1 0 % interest in Paxton Corporation: 1 . Prepare the journal entry

Assuming that the

42, 000

shares represent a

10 %

interest in Paxton Corporation:

1 .

Prepare the journal entry to record the investment in Paxton stock.

2 .

Prepare any entries that Marin Company should make in accounting for its investment in Paxton stock during the year.

3 .

What is the balance of the Stock Investments account on Marin Company's books at the end of the year?

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