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Q3. On January 1, Oetry Corporation purchased a 35% equity in Selig Company for $190,000....

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Accounting

Q3. On January 1, Oetry Corporation purchased a 35% equity in Selig Company for $190,000. At December 31, Selig declared and paid a $50,000 cash dividend and reported net income of $80,000.

Prepare the necessary journal entries for Oetry Corporation.

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