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Purple Corporation pays $527,000 to acquire 45% of the equity securities of Blue, Inc, on May 5, 2025. In the journal entry to record this

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Purple Corporation pays $527,000 to acquire 45% of the equity securities of Blue, Inc, on May 5, 2025. In the journal entry to record this transaction O A. Equity Investments Blue Inc. will be credited for $527,000 OB. Common Stock Holdings-Blue Inc. will be debited for $527,000 OC. Revenue from Investments will be credited for $527,000 OD. Equity Investments Blue Inc. will be debited for $527,000

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