on January 1,2024, Alamar Corporation acquired a 36 percent interest in Burks, Incorporated, for $220,000....
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Accounting
on January Alamar Corporation acquired a percent interest in Burks, Incorporated, for $ On that date, Burkss balance sheet disclosed net assets with both a fair and book value of $ During Burks reported net income of $ and declared and paid cash dividends of $ Alamar sold inventory costing $ to Burks during for $ Burks used all of this merchandise in its operations during
Required:
Prepare all of Alamars journal entries to apply the equity method to this investment.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
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