Using the data in M123, assume that Princeton Company purchased the voting stock of Cox Corporation for

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Using the data in M12–3, assume that Princeton Company purchased the voting stock of Cox Corporation for the available-for-sale portfolio instead of the trading securities portfolio. Give the journal entries for each of the transactions listed.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...
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