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PLEASE HELP ASAP WILL RATE! Agee Corporation acquired a 40% interest in Trent Company on January 1, 2018, for $750,000. At that time, Trent had
PLEASE HELP ASAP WILL RATE!
Agee Corporation acquired a 40% interest in Trent Company on January 1, 2018, for $750,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2018, Trent paid cash dividends of $240,000 and Trent's net income for 2018 was $540,000.
Create Journal Entries to record the above transactions,
What is the balance in Agee's equity investment account at the end of 2018?
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