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Required information Use the following information for the Problems below. [The following information applies to the question

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Journal Ontries in the books of Selk Steel Co. Year 1 Amount in & Jan 05 Investment in Associate Al DP 1 To Cash/Bank 15,60,0Dec 31 Investment in Associate Ale or 240,000 To Profit & loss th e 240,000 ( $1,560,000 – $69.00 *30)) Year a Oct 15 1,56.003,60,000 Dec 31 Investment in Assocfate Al Dr 3,60,000 To Profit & loss Ale ((30*60,000 Shares ) - 15,60,000 ) ( Being change

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