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please provide two sets of journal enteries Amos, Inc., purchased $1,000,000 of Cedric Enterprises stock on January 1, 2021. Cedric recognized a total of $460,000
please provide two sets of journal enteries Amos, Inc., purchased $1,000,000 of Cedric Enterprises stock on January 1, 2021. Cedric recognized a total of $460,000 net income during 2021 , paid $36,000 of dividends to Amos during 2021. On December 31, 2021, the market value of the Cedric investment had increased to $1,050,000 1. Prepare the journal entries necessary to account for the Cedric investment, assuming that the investment by Amos was 5% of Cedric 2. Prepare the journal entries necessary to account for the Cedric Investment, assuming that the investment by Amos was 25% of Cedric Complete this question by entering your answers in the tabs below. Prepare the journal entries necessary to account for the Cedric investment, assuming that Amos purchased 5% of Cedric's stock. ar no entry is required for a transaction/event, select "No Journal entry required in the first account hield.) View transaction lit Journal entry worksheet 2 1 Record the purchase of the investment Enter debitere credits View transaction list Journal entry worksheet 1 2 2 3 4 Record the purchase of the investment. Note: Enter debits before credits. Transaction General Journal Dobit Credit 1 Record entry Clear entry View general Journal Journal entry worksheet Record the entry for the cash dividend received. Note: Enter debits before credits Transaction General Journal Debit Credit 3 Record entry Clear entry View general Journal Journal entry worksheet Record the entry for adjusting the fair value of Cedric. Note: Enter debits before credits. Transaction General Journal Dobit Credit 4 Record entry Clear entry View general Journal Journal entry worksheet Record the receipt of dividend. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 Record the entry for adjusting the fair value of Cedric. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal
please provide two sets of journal enteries
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