(Answered) Question - tamarisk corporation purchased for 270000 a 30

Accounting

Question - Tamarisk Corporation purchased for $270,000 a 30% interest in Murphy, Inc. This investment enables Tamarisk to exert significant influence over Murphy. During the year, Murphy earned net income of $188,000 and paid dividends of $66,000.

Prepare Tamarisk's journal entries related to this investment.

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