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please provide only accurate answer Bridgeport Inc. purchased 30% of Nadal Corporation's 34,800 outstanding common shares at a cost of $15 per share on January
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Bridgeport Inc. purchased 30% of Nadal Corporation's 34,800 outstanding common shares at a cost of $15 per share on January 3 , 2024. The purchase price of $15 per share was based solely on the book value of Nadal's net assets. On 5 eptember 21. Nadal declared and paid a cash dividend of $51,000. On December 31, Bridgeport's year end, Nadal reported profit for the year of $109,000. Nadal shares had a fair value of $14,75 per share at December 31,2024 (a) Under the assumption that the 30% holding of Nadal does not give Bridgeport significant influence over Nadal, prepare all required 2024 journal entries, assuming the investment is accounted for using the FVTPL model. (Record entries in the arder displayed in the problem statement. Credit account titles are automatically indented when the amount is entened. Do not indent menually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries] eTextbook and Media Step by Step Solution
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