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This quest Heritage Ltd. was organized on January 2, 2022. The following investment transactions and events oc following months Jan. 5, 2022 Heritage paid
This quest Heritage Ltd. was organized on January 2, 2022. The following investment transactions and events oc following months Jan. 5, 2022 Heritage paid $40,000 for 10,000 shares (5%) of Dream Co.'s outstanding Jun. 10, 2022 Dec. 31, 2022 shares. Heritage will account for this investment with the FVTPL method. Dream Co. declared a total cash dividend of $90,000 Dream Co. announced that its profits for 2020 was $530,000. The fair value of the shares was $6 per share Feb. 9, 2023 Heritage sold all of its investment in Dream Co. for $52,000 Required Record the required journal entries for Heritage Ltd. based on the above events. Totion
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