On January 1, Oriole Company purchased a 25% equity investment in Pharoah Company for $336,000. At December 31, Pharoah Company declared and paid a $22,400 dividend and reported net income of $134,400. (a) Journalize the transactions on the books of Oriole Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.