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

2017

Jan.		2		Purchased 24,960 shares of Grecco Co. common stock for $409,000 cash plus a brokers fee of $3,100 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax.
Sept.		1		Grecco declared and paid a cash dividend of $1.60 per share.
Dec.		31		Grecco announced that net income for the year is $488,400.

2018

June		1		Grecco declared and paid a cash dividend of $2.20 per share.
Dec.		31		Grecco announced that net income for the year is $702,900.
Dec.		31		Kodax sold 8,000 shares of Grecco for $325,000 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.) Journal entry worksheet

Purchased 24,960 shares of Grecco Co. common stock for $409,000 cash plus a brokers fee of $3,100 cash. Grecco has 96,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax.

Date	General Journal	Debit	Credit
Jan 02, 2017

Grecco declared and paid a cash dividend of $1.60 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Sep 01, 2017

Grecco announced that net income for the year is $488,400.

Date	General Journal	Debit	Credit
Dec 31, 2017

Grecco declared and paid a cash dividend of $2.20 per share.

Date	General Journal	Debit	Credit
Jun 01, 2018

Grecco announced that net income for the year is $702,900.

Date	General Journal	Debit	Credit
Dec 31, 2018

Kodax sold 8,000 shares of Grecco for $325,000 cash.

Date	General Journal	Debit	Credit
Dec 31, 2018