Journalize the entries to record the following selected equity investment transactions completed by Flurry Company during 2012. Flurry's purchase represents less than 20% of the total outstanding Braxter stock.
Definitions:
Performance Duty
The obligation of a party to a contract to fulfill the terms of the agreement as specified.
Contract Right
A legal entitlement embedded within a contract that grants parties specific abilities or enforces particular obligations.
Defenses
Legal arguments and strategies used in court to justify, excuse, or mitigate an accused party's liability or wrongdoing.
Unconditionally Assigns
The act of transferring all rights and interests in a property or contract to another party without imposing any conditions.
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