Goldex Corporation had the following long-term investment transactions.
Jan.2 Purchased 5,000 shares of Donware,Inc.for $40 per share plus $6,195 in fees and commission.These shares represent a 30% ownership of Donware.
Sept.20 Donware declared a $1.50 per share cash dividend to shareholders of record on October 1,payable October 15.
Oct.15 Received Donware,Inc.cash dividend.
Dec.31 Donware reported a net loss of $66,000 for the year.
Prepare the journal entries Goldex Corporation should record for these transactions.

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The Answer of Goldex Corporation had the following long-term investment transactions.
Jan.2 Purchased 5,000 shares of Donware,Inc.for $40 per share plus $6,195 in fees and commission.These shares represent a 30% ownership of Donware.
Sept.20 Donware declared a $1.50 per share cash dividend to shareholders of record on October 1,payable October 15.
Oct.15 Received Donware,Inc.cash dividend.
Dec.31 Donware reported a net loss of $66,000 for the year.
Prepare the journal entries Goldex Corporation should record for these transactions.

Goldex Corporation Had the Following Long-Term Investment Transactions