On 1/2/21, American Express bought 10% of Associated Bank's common stock for $110 million. Associated Bank's net income for the year ended 12/31/21, was $140 million. The fair value of the shares held by American Express was $138 million at 12/31/21. During 2021, Associated Bank declared a dividend of $80 million.\\n \\n Required:\\n1. Prepare all appropriate journal entries related to the investment during 2021.

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To prepare the journal entries related to the investment during 2021 we need to account for the init... View the full answer