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Can someone please help me find the correct account titles Exercise 17-17 Your answer is partially correct. Try again. On January 1, 2020, Marigold Corporation
Can someone please help me find the correct account titles
Exercise 17-17 Your answer is partially correct. Try again. On January 1, 2020, Marigold Corporation purchased 20% of the common shares of Swifty Company for $196,000. During the year, Swifty earned net income of $77,000 and paid dividends of $19,250. Prepare the entries for Marigold to record the purchase and any additional entries related to this investment in Swifty Company in 2020. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit 196,000 196,000 T Cash (To record purchase of stock.) Cash T Common Stock 3,850 (To record receipt of dividends.) Common Stock | Revenue from Investme 15,400 (To record revenue.) Click If you would like to Show Work for this question: Open Show WorkStep by Step Solution
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