Prepare journal entries to record the above transactions and events of Kodax Company

Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 25,800 shares of Grecco Co. common stock for $417,000 cash plus a broker's fee of $3,900 cash. Grecco has 86,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $2.40 per share. Dec. 31 Grecco announced that net income for the year is $500,400. 2018 June 1 Grecco declared and paid a cash dividend of $3.00 per share. Dec. 31 Grecco announced that net income for the year is $722,900. Dec. 31 Kodax sold 10,000 shares of Grecco for $365,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) Journal entry worksheet Purchased 25,800 shares of Grecco Co. common stock for $417,000 cash plus a broker's fee of $3,900 cash. Grecco has 86,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Note: Enter debits before credits. General Journal Debit Credit Date Jan 02, 2017 Record entry Clear entry View general journal