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Unformatted text preview: You should prepare journal entries to record the investment, and necessary end-of-month adjusting entries to reflect changes for each month. May 7 Purchased 500,000 shares of Kuai Oil at $7 per share. May 31 The fair value of Kuai's stock was $9 per share. June 30 The fair value of Kuai's stock was $5 per share. July 15 Received a dividend from Kuai of $0.10 per share. July 31 The fair value of Kuai's stock was $8 per share....
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- Spring '11