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Business, 22.03.2021 18:40 ReaLily

Madison Corporation purchased 40% of Jay Corporation for $300,000 on January 1. On June 20 of the same year, Jay Corporation declared total cash dividends of $75,000. At year-end, Jay Corporation reported net income of $375,000. The balance in Madison's Equity Method Investments—Jay Corporation account as of December 31 should be:

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Madison Corporation purchased 40% of Jay Corporation for $300,000 on January 1. On June 20 of the sa...
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