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Problem 4 Prepare the appropriate three journal entries. On Jan. 1 Paul Co. purchased 35% of the common stock of Sam Co. for $850,000. During

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Problem 4 Prepare the appropriate three journal entries. On Jan. 1 Paul Co. purchased 35% of the common stock of Sam Co. for $850,000. During the year, Sam earned net income of $150,000 and paid dividends of $20,000

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