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Todd Company purchased a 25% interest in Harvey Corp. on January 1, 2013, for $800,000. Harvey Corp's net income for 2013 was $200,000. On June
Todd Company purchased a 25% interest in Harvey Corp. on January 1, 2013, for $800,000. Harvey Corp's net income for 2013 was $200,000. On June 1, 2013, Harvey Corp. paid a $40,000 cash dividend. Calculate the balance in Todd Company's investment account for January 1, 2014.
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