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Prepare robusts journal entry to record the receipt

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Reference no: EM132322295

Question

Portsmouth Company purchased $300,000 a 30% share in Robust Company. During the year Robust earned net income of $180,000 and paid $60,000 in dividend. Prepare Robust's journal entry to record the receipt of the dividend.

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132322295

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