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need help please? Oriole Corporation purchased for $322,000 a 30% interest in Murphy, Inc. This investment enables Oriole to exert significant influence over Murphy, During
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Oriole Corporation purchased for $322,000 a 30% interest in Murphy, Inc. This investment enables Oriole to exert significant influence over Murphy, During the year, Murphy earned net income of $183,000 and paid dividends of $60,000. Prepare Oriole's journal entries related to this investment. (List all debit entries before credit entries. Credit account titles are outomaticall) indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the omounts.) Step by Step Solution
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