Question: Refer to the facts provided in the previous problem (P7-17). Provide the journal entries assuming that LL classifies TT as an associate. Available Held for

Refer to the facts provided in the previous problem (P7-17). Provide the journal entries assuming that LL classifies TT as an associate.

Available Held for for saletrading Associate Balance sheet Investment in TTshares Statement of comprehensive income Dividend income Other income (specify types) Sub-totaleffect on net income Other comprehensive income Total effect on comprehensive income $80,000 80,000 50,000

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