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Myers company acquired a 60% interest in Gannon corporation on December 31st, 2014, for 1 million $575,000. During 2015, Gannon had net income of 1
Myers company acquired a 60% interest in Gannon corporation on December 31st, 2014, for 1 million $575,000. During 2015, Gannon had net income of 1 million dollars and paid cash dividends of $250,000. At December 31st, 2015, the balance in the investment account should be multiple choice a 2325000 dollars b 1575000 dollars C. 2 million $25,000 d. 2 million $175,000
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