Question

On February 10,15,00010,15,000 shares of Sting Company are acquired at a price of $25\$ 25 per share plus a $150\$ 150 brokerage commission. On April 12, a $0.40-per-share dividend was received on the Sting Company stock. On May 29, 6,000 shares of the Sting Company stock were sold for$32\$32 per share less a $120\$ 120 brokerage commission. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method.

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Answered 7 months ago
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In this problem, stock investment transaction will be presented.

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