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Prepare the entries for baker company to record the

On January 1, 2014, Baker Company purchased 25% of the common stock of Peter Inc. for $200,000. During the year, Peter Inc. earned net income of $80,000 and paid dividends of $20,000. Prepare the entries for Baker Company to record the purchase and any additional entries related to this investment in Peter Inc. in 2012.

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Accounting Basics: Prepare the entries for baker company to record the

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