Question: please help me finish the journal entry for when Selk sold 3% (equal go 2,100 shares) of its investment in kildare for 67,700 cash. Selk



Selk Steel Company, which began operations in Year 1, had the following transactions and events in its long-term investments. Year 1 January 5 Selk purchased 70,000 shares (208 of total) of Kildaire's conmon stock for $2,030,000. October 23 Kildaire declared and paid a cash dividend of $3.80 per share. December 31 Kildaire's net income for the year is $1,178,000, and the fair value of its stock at December 31 is $37 per share. Year 2 October 15 Kildaire declared and paid a cash dividend of \$3.50 per share. December 31 Kildaire's net income for the year is $1,177,000, and the fair value of its stock at December 31 is $39 per share. Year 3 January 2 Selk sold 38 (equal to 2,100 shares) of its investment in Kildaire for $67,700 cash. Prepare journal entries to record these transactions and events for Selk. repare journal entries to record these transactions and events for Selk. Selk sold 3% (equal to 2,100 shares) of its investment in Kildaire for $67,700 cash. Note: Enter debits before credits
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