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Problem for June 1st: Purchased 30% of SD's 800,000 shares for $5,600,000. Journal Entry: Debit to Investment in Equity for $5,600,000 Credit to Cash for

Problem for June 1st: Purchased 30% of SD's 800,000 shares for $5,600,000.

Journal Entry:

Debit to Investment in Equity for $5,600,000

Credit to Cash for $5,600,000

For the investment on June 1st, SD earned net income of $4,000,000 and distributed cash dividends of $1.25 per share. What is the adjusting entry for this on End of Year 2021, December 31st?

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