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QUESTION 16 In January 2022, Jayson Company purchased a 25% Equity Interest in Black Company for $250,000. For the year ended 12/31/22, Black reported
QUESTION 16 In January 2022, Jayson Company purchased a 25% Equity Interest in Black Company for $250,000. For the year ended 12/31/22, Black reported Net Income of $100,000. Jayson Company journal entry to report the net income would be: Credit Income from Investee Company 100,000 Debit Equity Investment-Black Co. 25,000 No Entry Credit Equity Investment - Black Co 100,000 2 poin
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