Continue the situation in Exercise 4-6 and assume that during 2020 Sales Company earned $190,000 and declared
Question:
Continue the situation in Exercise 4-6 and assume that during 2020 Sales Company earned $190,000 and declared and paid a $50,000 dividend.
Required:
A. Prepare the investment-related entries on Pert Company’s books for 2020.
B. Prepare the workpaper eliminating entries for a workpaper on December 31, 2020.
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Journal and Workpaper Entries Equity Method Part A Journal Entries Investment in Sales 85190000 1615...View the full answer
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