Exercise 15-14 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 purchased 87,000 shares, of Grecco Company common stock for $536,000 cash. Grocco has 261,000 sharos of common stock outetanding, and its activities will be significantly influenced by Xodax. September 1 Greceo declared and paid a cash dividend of $1.40 per share. Docember 31 Grecco announced that net income for the year is $509,400. Year 2 June I Greceo declared and paid a cakh dividend of $3.00 per thare. December 31 Grecco announced that net income for the year is $737,900. December 31 kodax sold 12,000 shares of Greceo for $98,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company, (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) Journal entry worksheet 23456 Purchased 87,000 shares of Grecco Company common stock for $536,000 cash. Greceo has 261,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Wotez Enter debits befoce oredit