Question 1 6 pts On January 1, 2019, Investor Company paid $875,000 for 20,000 shares...
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Accounting
Question 1 6 pts On January 1, 2019, Investor Company paid $875,000 for 20,000 shares of Affiliate Company stock. The investment represents a 25% interest in Affiliate. On June 30, 2019, Investor received a cash dividend of $2 per share from Affiliate. For the year ended December 31, 2019 Affiliate reported a net income of $440,000 Required: Prepare the necessary journal entries for 2019 related to the proper accounting for the Affiliate Investment assuming Investor uses the equity method. Use the table format option in the answer space to add an element of structure to your answer. For example: Account debited $$$$$$ Account credited $$$$$
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