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Accounting Assignment | Buy Homework Help

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March 17th, 2020

Williams Company purchases 1.000 shares of American Express common stock at the market price of $81.34 on March 23, 2016. (The equity method does not apply in this situation.) Williams intends to hold this investment for more than one year. On June 22, 2016, Williams receives a cash dividend of $0.29 per share of the American Express stock. Write the entries to
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(1) Record the initial investment; and

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(2) Record the receipt of the cash dividend? Get Accounting Help Today

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