Listed below are a few events and transactions of Kodax Company. Year 1 Jan. 2 Purchased 72,000 shares of Grecco Co. common stock for $566,000 cash. Grecco has 216,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $1.10 per share. Dec. 31 Grecco announced that net income for the year is $513,900. Year 2 June 1 Grecco declared and paid a cash dividend of $3.90 per share. Dec. 31 Grecco announced that net income for the year is $745,400. Dec. 31 Kodax sold 12,000 shares of Grecco for $125,000 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.)

• Purchased 72,000 shares of Grecco Co. common stock for $566,000 cash. Grecco has 216,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jan. 2, Year 1

• Grecco declared and paid a cash dividend of $1.10 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Sept. 1, Year 1

• Grecco announced that net income for the year is $513,900.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec. 31, Year 1

• Grecco declared and paid a cash dividend of $3.90 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
June 1, Year 2

• Grecco announced that net income for the year is $745,400.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec. 31, Year 2

• Kodax sold 12,000 shares of Grecco for $125,000 cash.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec. 31, Year 2