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Entries for equity investment of between 2 0 % - 5 0 % ownership Glacier Products Inc. is a wholesaler of rock climbing gear. The
Entries for equity investment of between ownership
Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January Y The following transactions
relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December Y:
Jan. Purchased shares of Helsi Co common stock for $ There are shares of Helsi Co stock outstanding.
Dec. Received $ of cash dividends on Helsi Co stock. Helsi Co reported net income of $ in
Required:
Journalize the entries to record the preceding transactions. If an amount box does not require an entry, leave it blank.
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