Year 1

Jan.		2		Purchased 75,000 shares of Grecco Co. common stock for $531,000 cash. Grecco has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax.
Sept.		1		Grecco declared and paid a cash dividend of $1.70 per share.
Dec.		31		Grecco announced that net income for the year is $504,900.

Year 2

June		1		Grecco declared and paid a cash dividend of $3.40 per share.
Dec.		31		Grecco announced that net income for the year is $730,400.
Dec.		31		Kodax sold 9,000 shares of Grecco for $131,000 cash.

Prepare journal entries to record the above transactions and events of Kodax Company.