Question
Mercur Corporation had the following long-term investment transactions. Jan2 Purchased 6,000 shares of Opticon Inc. for $45 per share plus $7,515 fess and commission. These
Mercur Corporation had the following long-term investment transactions. Jan2 Purchased 6,000 shares of Opticon Inc. for $45 per share plus $7,515 fess and commission. These shares represent a 35% ownership of Opticon. Spet, 20 Opticon declared a $2.50 per share cash dividend to shareholders of record on October. 1, payable October 15.- Oct. 15 Received Opticon Inc. cash dividend.- Dec. 31 Opticon reported a net loss of $80,000 for the year Prepare the journal entries Mercur Corporation should record for these transactions. (7 marks) Your anfwor
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