The Dawson Company uses the foir volue method to account for its investment in Combs' company. lgnore closing entries recorded on Decernber 31 to close temporary accounts. The Dawson Company ends its fiscal year on December 31 of each year. Note 1: The fair value method is the method used to account for investments classified as troding securities. (Even though Dawson bought exactly 20% of Combs, treat the investment as a trading security] Prepare journal entries for Dawson Company based on the information provided. 15. Informotion 1. On December 31, YR10, Dawson bought 20% of Combs' common stock for $190,000. Total book value of Combs Company was. tann nne an thit itatn The Dawson Company uses the foir volue method to account for its investment in Combs' company. lgnore closing entries recorded on Decernber 31 to close temporary accounts. The Dawson Company ends its fiscal year on December 31 of each year. Note 1: The fair value method is the method used to account for investments classified as troding securities. (Even though Dawson bought exactly 20% of Combs, treat the investment as a trading security] Prepare journal entries for Dawson Company based on the information provided. 15. Informotion 1. On December 31, YR10, Dawson bought 20% of Combs' common stock for $190,000. Total book value of Combs Company was. tann nne an thit itatn