please answer quickly Suppose on February 1,2020, General Motors paid $41 million for a 40 percent invastment in ABC Lid, an auto parts manufacturer Assume ABC earned net income of $ milition and paid cash dividends of $2 million during 2020 Requirements 1 What method should General Motors use to account for the investment in ABC Give your reason 2 Journalize these three transactions on the books of General Motors Show all amounts in milions of dollars, and include an explanation for each entry 3 Post to the Long Term Investment T account What is its balance after all the transactions are posted Requirement 1 What method should General Motors use to account for the investment in ABC Give your reasph is appropriate because General Motors holds a 40 percent imvestment in ABC and therefore will have over ABC Requirement 2 Journalize these three transactions on the books of Guneral Motors (Show all amounts in millions of dollars Record debits ifret thea credine Enter explanations on the last line of the journal entry ) Begin with the purchase of the investment in ABC L

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please answer quickly Suppose on February 1,2020, General Motors paid $41 million for a 40 percent invastment in ABC Lid, an auto parts manufacturer  Assume ABC earned net income of $  milition and paid cash dividends of $2 million during 2020 Requirements 1  What method should General Motors use to account for the investment in ABC  Give your reason 2  Journalize these three transactions on the books of General Motors  Show all amounts in milions of dollars, and include an explanation for each entry 3  Post to the Long Term Investment T account  What is its balance after all the transactions are posted  Requirement 1  What method should General Motors use to account for the investment in ABC  Give your reasph is appropriate because General Motors holds a 40 percent imvestment in ABC and therefore  will have over ABC  Requirement 2  Journalize these three transactions on the books of Guneral Motors (Show all amounts in millions of dollars  Record debits ifret  thea credine Enter explanations on the last line of the journal entry ) Begin with the purchase of the investment in ABC L

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please answer quickly Suppose on February 1,2020, General Motors paid $41 million for a 40 percent invastment in ABC Lid, an auto parts manufacturer -Assume

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