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Persia Co. purchased 25% of Turco Corp stock as an investment for $340,000. Turco Corp. paid dividends of $30,000 to ALL its investors Turco Corp
Persia Co. purchased 25% of Turco Corp stock as an investment for $340,000. Turco Corp. paid dividends of $30,000 to ALL its investors Turco Corp reported net income for the year of $137,000, The fair value of Turco's depreciable assets exceeded their book value by $77,000 These assets had a remaining useful life of 5 years with no residual value The straight-line method of depreciation was used. What is the credit balance in Persias Investment Revenue account based on this transaction?
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