kodax sold 8,000 shares of grecco for 335,000 cash

2017 Jan. 2 Purchased 26,840 shares of Grecco Co. common stock for $411,000 cash plus a broker's fee of $3,300 cash. Grecco has 84,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a'cash dividend of $1.50 per share. Dec. 31 Grecco announced that net income for the year is $491,400. 2018 June 1 Grecco declared and paid a cash dividend of $2.40 per share. Dec. 31 Grecco announced that net income for the year is $707,900. Dec. 31 Kodax sold 8,000 shares of Grecco for $335,000 cash. falavama inn not round intermediate calculations and Journal entry worksheet @ @ @ @ 66 Kodax sold 8,000 shares of Grecco for $335,000 cash. Note: Enter debits before credits. Credit Debit 335.000 Date General Journal Dec 31, 2018 Cash Long-term investments-Grecco Gain on sale of investment Record entry Clear entry View general journal