On January 1,2018,Innocente Company purchased 1,000 shares of Entel common stock at $40 per share.Innocente owns 3% of the outstanding shares with insignificant influence.On June 1,2018,Entel declares and distributes a cash dividend of $0.50 per share.On December 31,2018,the market price of Entel's stock is $44 per share.On February 1,2019,the Entel's stock is sold for $48 per share.
Prepare the journal entries on:
1.January 1,2018
2.June 1,2018
3.December 31,2018
4.February 1,2019
Explanations are not required.
Correct Answer:
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