Company journal entry to record the purchase


Question: Amber Company purchases all of Coral Corporation's common shares for $450,000. Which of the following is Amber Company's journal entry to record the purchase? O Debit Income from Investment for $450,000; Credit Cash for $450,000 O Debit Cash for $450,000; Credit Investment in Coral Corporation for $450,000 O Debit Common Stock for $450,000; Credit Cash for $450,000 O Debit Investment in Coral Corporation for $450,000; Credit Cash for $450,000

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Accounting Basics: Company journal entry to record the purchase
Reference No:- TGS03426927

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