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

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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.)

Listed below are a few events and transactions of Kodax Company. Year1 January 2 Purchased 38,600 shares of Grecco Company common stock for $411; 090 cash. Grecco has 99,899 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 $2.18 per share. December 31 Grecco announced that net income for the year is $702,750. Deceber a Kodax sold 3,638 shares of Grecco for $71,888 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 not complete. Date General Joumal Debit Credit 1 January 2 Year 1 411,000 Cash 411,000 2 September 1, Year Cash 45,000 45,000 3 December 31. Year 162,300 182.300 June 1. Year 2 Cash 63,000 S 63.000 5 December 31. Yeal No Transaction Recorded Decembe 31. Yeal Cash 71.000 Gain on sale of stock investments