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Business, 30.03.2021 02:00 ocean11618

Robbins owns 40% of Smith and has a balance in its Investment Account of$200,000. On January 1, 2020 Robbins purchases an additional 20% of Smith for $150,000 cash. In addition to the entry, Dr. Investment 150,000 and Cr. Cash 150,000 what additional journal entry by Robbins is required. (hint: revalue the original 40% ownership interest of Robbins ).

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Robbins owns 40% of Smith and has a balance in its Investment Account of$200,000. On January 1, 2020...
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