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QUESTION 26 XYZ purchased $100,000 equity interest in Z-Tech, Inc, on January 1, 2020. On November 30, 2020, Z-Tech paid dividends of $3,000 to XYZ.

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QUESTION 26 XYZ purchased $100,000 equity interest in Z-Tech, Inc, on January 1, 2020. On November 30, 2020, Z-Tech paid dividends of $3,000 to XYZ. At December 31, 2020, XYZ's holdings in Z-Tech is valued at $101,000. Prepare the entries necessary to record (1) the purchase of the investment, (2) the receipt of dividends and (3) year-end adjusting entry assuming that XYZ uses the Available for Sale method to account for this investment Note: Space is limited. Please do not skip lines between entries. TTT Arial 3 (12pt) #T Path: P Words:0

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