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

Year $1$

January $2$ Purchased $87,000$ shares of Grecco Company common stock for $$536,000$ cash. Grecco has $261,000$ 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\mathrm{.}40$ per share.

December $31$ Grecco announced that net income for the year is $$509,400.$

Year $2$

June $1$ Grecco declared and paid a cash dividend of $$3\mathrm{.}00$ per share.

December $31$ Grecco announced that net income for the year is $$737,900.$

December $31$ Kodax sold $12,000$ shares of Grecco for $$98,000$ cash.

Prepare journal entries to record the above transactions and events of Kodax Company.

Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

Purchased $87,000$ shares of Grecco Company common stock for $$536,000$

cash. Grecco has $261,000$ shares of common stock outstanding, and its

activities will be significantly influenced by Kodax.

Note: Enter debits before credits.

Year $1$

January $2$ Purchased $87,000$ shares of Grecco Company common stock for $$536,000$ cash. Grecco has $261,000$ 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\mathrm{.}40$ per share.

December $31$ Grecco announced that net income for the year is $$509,400.$

Year $2$

June $1$ Grecco declared and paid a cash dividend of $$3\mathrm{.}00$ per share.

December $31$ Grecco announced that net income for the year is $$737,900.$

December $31$ Kodax sold $12,000$ shares of Grecco for $$98,000$ cash.

Prepare journal entries to record the above transactions and events of Kodax Company.

Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount.