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Please help with preparing these journal entries and balancing the stock invetment account. James (investor) Corporation acquires 35% of the common shares of Heck (investee)

Please help with preparing these journal entries and balancing the stock invetment account.

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James (investor) Corporation acquires 35% of the common shares of Heck (investee) Company for $300,000 on January 1, 2014. For 2014, Heck reports net income of $50,000 and paid dividends of $16,000. Instructions a. Prepare the entries for these transactions that James Corporation would make in the space provided below. b. Compute the balance in the stock investment account of James Corporation

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