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Business, 01.07.2019 18:30 hvvhvc

Cole inc. owns shares of marlin corporation stock. at december 31, 2017, the securities were carried in cole’s accounting records at their cost of $875,000, which equals their fair value. on september 21, 2018, when the fair value of the securities was $1,200,000, cole declared a property dividend whereby the marlin securities are to be distributed on october 23, 2018, to stockholders of record on october 8, 2018. prepare all journal entries necessary on those three dates.

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