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Investment in Marketable Securities: On January 3, 20x1, Matthew Corporation purchased the following equity securities...

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Investment in Marketable Securities: On January 3, 20x1, Matthew Corporation purchased the following equity securities as an investment. The securities are classified as trading. Number of Cost of Total Company Shares Share Cost 800 $20 $ 16,000 2,000 24,000 400 22 8,800 Prepare the journal entry to record the acquisition of the stock. On June 30, 20x1, C Company paid dividends of $3.00 per share. Prepare the journal entry that would be used by Matthew to record the dividend receipt. (Show all work)

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