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Required 1 equired 2 Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10% interest in the net assets
Required 1 equired 2 Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10% interest in the net assets of Lavery rather than a 30% interest. (If no entry is required for a transaction/event, select "No journal entry required. in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as lo)) No Event General Journal Dela Credit Investment in Lavery Labeling shares 24 Cash 24 Deferred revenue 160 160 0 200 Cash Gain on sale of investments 20 Investment revenue Investment in Lavery Labeling shares
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