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JOURNAL ENTRIES IN THE BOOK OF TRENDY CLOTHING CORPORATION
| DATE | DETAILS | DEBIT | CREDIT |
| JAN 1 | INVESTMENT-COOL HOODIED CORPORATION | $700000 | |
| CASH | $700000 | ||
| SEPT 30 | CASH | $42000 | |
| DIVIDEND | $42000 | ||
| DEC 31 | NO ENTRY | 0 | |
| 0 | |||
| DEC 31 | CASH | $400000 | |
| INVESTMENT-COOL HOODIED CORPORATION($700000*50%) | $350000 | ||
| GAIN ON SALE OF INVESTMENT | $50000 |
NOTE:- There is no entry for Cool Hoodies Corporation's Profit because.They have just a earned a net profit.They didn't delared a Dividend.Therefore,it didn't effect the Trendy clothing Corporation's Books
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