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Prepare zoops journal entries related to this investment

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Reference no: EM131116133

1. Zoop Corporation purchased for $300,000 a 30% interest in Murphy, Inc. This investment enables Zoop to exert significant influence over Murphy. During the year Murphy earned net income of $180,000 and paid dividends of $60,000. Prepare Zoop's journal entries related to this investment. 

Reference no: EM131116133

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Prepare zoops journal entries related to this investment : Zoop Corporation purchased for $300,000 a 30% interest in Murphy, Inc. This investment enables Zoop to exert significant influence over Murphy.
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