Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 30,000 shares of Grecco Company common stock for $411,000 cash. Grecco has 90,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $1.50 per share. December 31 Grecco announced that net income for the year is $486,900. Year 2 June 1 Grecco declared and paid a cash dividend of $2.10 per share. December 31 Grecco announced that net income for the year is $702,750. December 31 Kodax sold 3,000 shares of Grecco for $71,000 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.)