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Maize Corporation Pays $500,000 for 100,000 Shares to Acquire 40

question 13

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Maize Corporation pays $500,000 for 100,000 shares to acquire 40% of Teal Investments on January 5, 2016. Maize Corporation sells 10,000 shares for $40,000 on January 6, 2016. Which of the following is the correct journal entry for the transaction on January 6, 2016?


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