Listed below are a few events and transactions of Kodax Company.
Year 1
Jan. 2 Purchased 82,000 shares of Grecco Co. common stock for $546,000 cash. Grecco has 246,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax.
Sept. 1 Grecco declared and paid a cash dividend of $1.30 per share.
Dec. 31 Grecco announced that net income for the year is $510,900.
Year 2
June 1 Grecco declared and paid a cash dividend of $3.20 per share.
Dec. 31 Grecco announced that net income for the year is $740,400.
Dec. 31 Kodax sold 13,000 shares of Grecco for $99,500 cash.
Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.)