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Jan. 2 Purchased 29,700 shares of Grecco Co. con stock for $422,000 ash plus broker's fee of $4,400 cash. Grecce has 66,000 shares of comon

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Jan. 2 Purchased 29,700 shares of Grecco Co. con stock for $422,000 ash plus broker's fee of $4,400 cash. Grecce has 66,000 shares of comon stock outstanding, and its policies will be significantly influenced by Kodex. Sept. 1 Grecco declared and paid a cash dividend of $2.90 per share. Dec. 31 Grecco announced that net incone for the year is $587,900. 2018 June 1 Grecco declared and paid a cash dividend of $3.50 per share. Dec. 31 Grecco announced that net income for the year is $735,400. Dec. 31 Kodax sold 13,00 shares of Grecco for $390,000 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.) Answer is complete but not entirely correct. Debat Credit Jan 02, 2017 General Journal Long-term investments-Grecco Cash 426,400 426.400 Sep 01, 2017 86,130 Cash Long-term investments-Grecco o 86,130 Dec 31, 2017 228,555 Long-term investments-Grecco Earnings from long-term investment Jun 01, 2018 94,500 Cash Long-term investments --Grecco 94,500 Dec 31, 2018 330,930 Long-term investments Grocco Earnings from long-term investment oo 330,930 Dec 31, 2018 390.000 Cash Long-term investments-Grecco Earnings from long-term investment 00 268.418 121,562

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