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Question 17 Culver Corporation purchased 400 common shares of Sigma Inc. for trading purposes for $13.200 on September 8 and accounted for the investment under

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Question 17 Culver Corporation purchased 400 common shares of Sigma Inc. for trading purposes for $13.200 on September 8 and accounted for the investment under ASPE at FV-NI In December, Sigma declared and paid a cash dividend of $1.30 per share. At year end. December 31, Sigma shares were selling for $35.60 per share. In late January Culver sold the Sigma shares for $34.69 per share. Prepare Culver Corporation's journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If ne entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Date Account Titles and Explanation September 8 W LIST OF ACCOUNTS Prepare Culver Corporation's journal entry to record the dividends received. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Debit Date Account Tities and Explanation December 31 SHOW LIST OF ACCOUNTS

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