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Business, 18.07.2020 21:01 hope4517

Bharrat Corporation purchased 42% of Ferris Corporation for $102,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $14,000. At year-end, Ferris Corporation reported net income of $62,000. The balance in the Bharrat Corporation's Long-Term Investment-Ferris account at December 31 should be:

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Bharrat Corporation purchased 42% of Ferris Corporation for $102,000 on January 1. On October 17 of...

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