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Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased...

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Accounting

Listed below are a few events and transactions of Kodax Company. 2017 Jan. 2 Purchased 26,600 shares of Grecco Co. common stock for $419,000 cash plus a brokers fee of $4,100 cash. Grecco has 76,000 shares of common stock outstanding, and its policies will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $2.60 per share. Dec. 31 Grecco announced that net income for the year is $503,400. 2018 June 1 Grecco declared and paid a cash dividend of $3.20 per share. Dec. 31 Grecco announced that net income for the year is $727,900. Dec. 31 Kodax sold 11,000 shares of Grecco for $375,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.)

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