Bianka Company owns 30 percent of Bargain Company. In 2011, Bargain earned $60,000 and paid $40,000 in
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Bianka Company owns 30 percent of Bargain Company. In 2011, Bargain earned $60,000 and paid $40,000 in dividends. Prepare journal entries for Bianka’s records on December 31 to record this information. Assume that the dividends are received on December 31.
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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