Question: 1 0 1.5 B D E G H 4 Polnts 2 Assa Corporation purchased 3,900 shares of Tumen Inc. as a trading investment for 3

1 0 1.5 B D E G H 4 Polnts 2 Assa Corporation purchased 3,900 shares of Tumen Inc. as a trading investment for 3 at $12.00 per share. During the year, Tumen Inc. paid a cash dividends of $46,800 4 At year-end, Tumen's shares were selling for $0.60 per share. $15.60 per share. 5 6 Instructions: Score 7 Max Actual 8 Prepare Assa's journal entries to record: 4 9 1) The purchase of the investment. 1 10 2) The dividends received 11 3) The fair value adjustment at year end. 1.5 12 13 Account Titles Dr Cr 14 15 16 17 18 19 20 21 22

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