Assignment Task: On 1/1/xx, Company A purchases 100% of Company B for $100,000 cash. On 12/31/xx, Company B realizes profit of $20,000 and pays dividends of $5,000.
Q1. What are the entries for Company A associated with the above activities utilizing the equity method?
Q2. What is the balance in Company A's investment account at the end of the year, 12/31/xx?
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