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On January 2, 2024, MBH Incorporated acquired 20% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial
On January 2, 2024, MBH Incorporated acquired 20% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2024, include the following: Required: Prepare any necessary journal entries for MBH at December 31, 2024, under the equity method of accounting for investments. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry for investment revenue received from Construction Corporation. Note: Enter debits before credits
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