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thompson owns 100% of Rollins and at 12/31/2012. its investment in Rollins account stands at 10000000....

thompson owns 100% of Rollins and at 12/31/2012. its investment in Rollins account stands at 10000000. on that date thompson sells 20% of its ownership for2500000 cash prepare the j/e to be recorded by thompson on 12/31/2012?

b. Same facts as above, except the sales price is $1,000,000 cash. Prepare the journal entry to be recorded by Thompson on December 31,2012.

Answer b please.

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