Exercise 15-12 Securities transactions; equity method LO P4 Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 27,000 shares of Grecco Co. common stock for $427,000 cash plus a broker's fee of $4,900 cash. Grecco has 100,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $3.40 per share Dec. 31 Grecco announced that net income for the year is $515,400 2018 June 1 Grecco declared and paid a cash dividend of $4.00 per share Dec. 31 Grecco announced that net income for the year is $747,900 Dec. 31 Kodax sold 14,000 shares of Grecco for $415,000 cash Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 4 6 Purchased 27,000 shares of Grecco Co. common stock for $427,000 cash plus a broker's fee of $4,900 cash. Grecco has 100,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax Note: Enter debits before credits Date General Journal Debit Credit Jan 02, 2017 Record entry Clear entry View general journal