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PREMI Glasses, Inc. received $12.000 in dividends on its investment in. Scissors, Corp. during 2020 Scenario A: assume that Glasses, Inc. uses the equity method
PREMI Glasses, Inc. received $12.000 in dividends on its investment in. Scissors, Corp. during 2020 Scenario A: assume that Glasses, Inc. uses the equity method to account for its long-term Investment in Soissors, Corp. Soenario B: Assume that Glasses, Inc. uses the fair value methool to Account for its long-term investment in Selcsors, Corp For each scenario, first prepare the journal entry to record the recipt of the dividends and then Identify the effect that the resept of dividends will have on the income statement and the balance sheet. If the financial statement isnt affected, write no effect: Scenario A: Equity Method Income Statement Balance Sheet Scenario B: Fair Value Method Income Statement Balance Sheet
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