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Ryckman Incorporated purchased 500 common shares of Minerva Inc. for $62,000 and accounted for them using the fair value through other comprehensive income model. During the year, Minerva paid a cash dividend of $2.36 per share. At year end, Minerva shares had a fair value of $90.00 per share.
problem 1: Prepare Ryckman's journal entries to record: 1. The purchase of the investment 2. The dividends received 3. The fair value adjustment at the end of the year
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please these one cant figure out how to prepare journal entries for these please help me.
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