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Question: Merando Company acquires 30 percent of Pau Company's common stock for $200,000 at the beginning of the year but does not gain significant influence over Pau. During the year, Pau has net income of $40,000 and pays dividends of $30,000. Prepare the journal entries. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Category:- Accounting Basics
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