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ed al Journalize any adjusting entry required on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal
ed al Journalize any adjusting entry required on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanations column and leave the remaining fields blank.) Accounts and Explanations Debit Date Dec. 31, 2025 Credit Requirement 3. An investor paid $70,200 on January 1, 2025, to acquire 30% of Bommie - Boy, Inc.'s outstanding common stock. The investor had significant control of Bommie - Boy, Inc. For the year ending December 31, 2025, Bommie - Boy Inc.'s net income was $30,000, and on June 14, the company declared and paid cash dividends of $10,000 to all stockholders. Journalize the investor's transactions related to the Bommie - Boy, Inc. investment: (a) purchase of the investment, (b) receipt of dividends, (c) investor's share of net income, and (d) sale of Bommie - Boy, Inc. stock for $79,100 on January 3, 2026. (Record debits first, then credits. Sel
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