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On May 15,2025, Mayer Co. invests $8,000 in John, Inc. stock. John, Inc. pays Mayer...

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Accounting

On May 15,2025, Mayer Co. invests $8,000 in John, Inc. stock. John, Inc. pays Mayer Co. a $200 dividend on November 15,2025. Mayer Co. sells the John, Inc. stock on December 10,2025, for Select the explanation on the last line of the journal entry table.)
Begin by journalizing Mayer Co.'s initial investment in John, Inc. stock on May 15,2025.
\table[[Date,Accounts and Explanation,Debit,Credit],[May 15,2025],[+],[],[,-,,],[,x2,,]]
Next, journalize Mayer Co.'s receipt of the November 15,2025 dividend.
Now journalize Mayer Co.'s sale of the John, Inc. stock on December 10,2025.
\table[[Date,Accounts and Explanation,Debit,],[Dec.10,2025,,,],[,,,]]
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