Prepare the journal entries for the following transactions for Morgan Co. July    1 Morgan Co. purchased 32,000 shares of the total of 100,000 outstanding shares of Gordon Corp. stock for $10 per share plus a $400 commission. Dec. 31 Gordon Corp.'s total earnings for the period are $80,000.         31 Gordon Corp. paid a total of $45,000 in cash dividends.

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Q: Prepare the journal entries for the following transactions for Morgan Co. July 1 Morgan Co.…

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A:

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Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

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