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Vince bought a 25% stake in Morelli for 180,000 on January 1. Morelli Company on December 31 Declared and paid a cash dividend of 36,000

Vince bought a 25% stake in Morelli for 180,000 on January 1. Morelli Company on December 31 Declared and paid a cash dividend of 36,000 and announced a net profit of 160,000 for the year

1. journal entry for the above transaction

2. What was the reported balance of Morelli's stock investment on December 31?

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