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Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 25, 000 shares of Grecco Company comnon stock for

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Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 25, 000 shares of Grecco Company comnon stock for $421,000 cash. Grecco has 100,000 shares of comnon stock outstanding, and its activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $1.60 per share. Decenber 31 Grecco announced that net income for the year is $488,400. Year 2 June 1 Grecco declared and paid a cash dividend of $1.90 per share. December 31 Grecco announced that net income for the year is $702,980. Decenber 31 Kodax sold 8,000 shares of Grecco for $210,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. Note: Do not round intermediate calculations and round your fin answers to the nearest dollar amount. Journal entry worksheet Purchased 25,000 shares of Grecco Company common stock for $421,000 cash. Grecco has 100,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Note: Enter debits before credts

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