On April 25. Davis Company buys 4.200 shares of Carter common stock for $94500. On October...

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On April 25. Davis Company buys 4.200 shares of Carter common stock for $94500. On October 31. Davis sells 600 shares of Carter stock for $16,500 Propurejournal entries for the purchase and sale of the Carter common stock. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit On January 1, Sanchez Corporation purchased a 35% equity interest in Lawton Company for $380,000. At December 31, Lawton declared and paid a $40,000 cash dividend and reported net income of $98,000. Prepare the necessary journal entries for Sanchez Corporation. (Credit account titles are automatically indented when the amount is enterad. Do not indent manualy, Record journal entries in the order presented in the problem,.) Account Titles and Explanation Date Debit Credit (To record dividends paid) (To record reported net income) On April 25. Davis Company buys 4.200 shares of Carter common stock for $94500. On October 31. Davis sells 600 shares of Carter stock for $16,500 Propurejournal entries for the purchase and sale of the Carter common stock. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit On January 1, Sanchez Corporation purchased a 35% equity interest in Lawton Company for $380,000. At December 31, Lawton declared and paid a $40,000 cash dividend and reported net income of $98,000. Prepare the necessary journal entries for Sanchez Corporation. (Credit account titles are automatically indented when the amount is enterad. Do not indent manualy, Record journal entries in the order presented in the problem,.) Account Titles and Explanation Date Debit Credit (To record dividends paid) (To record reported net income)

Answer rating: 100% (QA)

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