Listed below are a few events and transactions of Kodax Company. Year 1

Jan.		2		Purchased 45,000 shares of Grecco Co. common stock for $451,000 cash. Grecco has 180,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax.
Sept.		1		Grecco declared and paid a cash dividend of $1.90 per share.
Dec.		31		Grecco announced that net income for the year is $492,900.

Year 2

June		1		Grecco declared and paid a cash dividend of $1.30 per share.
Dec.		31		Grecco announced that net income for the year is $710,400.
Dec.		31		Kodax sold 12,000 shares of Grecco for $171,500 cash.

Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and