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On January 1, 2024, Bark Company Invests $10,000 in Roots, Inc. stock. Roots pays Bark a $400 dividend on August 1, 2024 Bark sells
On January 1, 2024, Bark Company Invests $10,000 in Roots, Inc. stock. Roots pays Bark a $400 dividend on August 1, 2024 Bark sells the Roots' stock on August 31, 2024, for $10.450. Assume the investment is categorized as a short-term equity investment and Bark Company does not have significant influence over Roots, Inc. Read the requirements Requirement 1. Journalize the transactions for Bark's investment in Roots stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Begin by joumalizing Bark's initial investment in Roots, Inc., stock Data Accounts and Explanation: Jan 1 Held-to-Maturity Debt Investments Cash Adjusted trading debit investments to market value Next, joumalize Bark's receipt of the August 1 dividend Date Accounts and Explanation Debit Credit 10,000 10.000 Debit Credit
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