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Prepare the entries for marigold to record the purchase

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Question - On January 1, 2017, Marigold Corporation purchased 30% of the common shares of Swifty Company for $196,000. During the year, Swifty earned net income of $73,000 and paid dividends of $18,250.

Prepare the entries for Marigold to record the purchase and any additional entries related to this investment in Swifty Company in 2017.

Reference no: EM131975079

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