Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 24,960 shares of Grecco Co. common stock for $416,000 cash plus a broker's fee of $3,800 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1Grecco declared and paid a cash dividend of $2.30 per share. Dec. 31 Greccoo announced that net income for the year is $498,900. 2018 June 1 Grecco declared and paid a cash dividend of $2.90 per share. Dec. 31 Grecco announced that net income for the year is $720,400. Dec. 31 Kodax sold 14,000 shares of Grecco for $360,000 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.) View transaction list Journal entry worksheet Purchased 24,960 shares of Grecco Co. common stock for $416,000 cash plus a broker's fee of $3,800 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Note: Enter debits before credits. Credit Date General Journal Debit Jan 02, 2017 : Long-term investments-Grecco 419,800 419,800 Cash View general journal Record entry Clear entry Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 24,960 shares of Grecco Co. common stock for $416, 000 cash plus a broker's fee of $3,800 cash. Grecco has 96,00e shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1Grecco declared and paid a cash dividend of $2.30 per share. Dec. 31 Grecco announced that net income for the year is $498,900. 2018 June 1Grecco declared and paid a cash dividend of $2.90 per share. Dec. 31 Grecco announced that net income for the year is $720,400. Dec. 31 Kodax sold 14,000 shares of Grecco for $360,000 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.) View transaction list Journal entry worksheet 2 6 Grecco announced that net income for the year is $498,900. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2017 Long-term investments-Grecco 129,714 Earnings from long-term investment 129,714 Record entry View general journal Clear entry Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 24,960 shares of Grecco Co. common stock for $416,000 cash plus a broker's fee of $3,800 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1Grecco declared and paid a cash dividend of $2.30 per share. Dec. 31 Grecco announced that net income for the year is $498,900. 2018 June 1 Grecco declared and paid a cash dividend of $2.90 per share. Dec. 31 Grecco announced that net income for the year is $720,400. Dec. 31 Kodax sold 14,000 shares of Grecco for $360,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round Intermedlate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 5 4 Grecco declared and paid a cash dividend of $2.90 per share. Note: Enter debits before credits. General Journal Debit Credit Date 72,384 Jun 01, 2018 Cash 72,384 Long-term investments-Grecco Record entry Clear entry View general journal Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 24,960 shares of Grecco Co. common stock for $416,000 cash plus a broker's fee of $3,800 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1Grecco declared and paid a cash dividend of $2.30 per share. Dec. 31 Grecco announced that net income for the year is $498,900. 2018 June 1Grecco declared and paid a cash dividend of $2.90 per share. Dec. 31 Grecco announced that net income for the year is $720,400. Dec. 31 Kodax sold 14,000 shares of Grecco for $360,000 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.) View transaction list Journal entry worksheet 5 6 Kodax sold 14,000 shares of Grecco for $360,000 cash. Note: Enter debits before credits. Credit Date General Journal Debit 360,000 Dec 31, 2018 Cash 235.465 Long-term investments-Grecco 124,535 Gain on sale of investment Record entry View general journal Clear entry