On January 1,Year 1,Sumace Corporation purchased 5,500 shares of Zotware Corp.as a long-term investment for a total of $208,220.The 5,500 shares represented 40% of the outstanding shares of Zotware.The following transactions occurred in the remainder of year 1.
Feb.1 Sold 2,000 shares of Zotware for $31.50 per share.
Oct.1 Zotware declared an $0.80 per share cash dividend to shareholders of record on October 15,payable November 1.
Nov.1 Received Zotware cash dividend.
Dec 31 At the end of Year 1,Zotware reported a profit of $66,000 for the year
Required: Record the transactions for Year 1.

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The Answer of On January 1,Year 1,Sumace Corporation purchased 5,500 shares of Zotware Corp.as a long-term investment for a total of $208,220.The 5,500 shares represented 40% of the outstanding shares of Zotware.The following transactions occurred in the remainder of year 1.
Feb.1 Sold 2,000 shares of Zotware for $31.50 per share.
Oct.1 Zotware declared an $0.80 per share cash dividend to shareholders of record on October 15,payable November 1.
Nov.1 Received Zotware cash dividend.
Dec 31 At the end of Year 1,Zotware reported a profit of $66,000 for the year
Required: Record the transactions for Year 1.

On January 1,Year 1,Sumace Corporation Purchased 5,500 Shares of Zotware