During January 2013, Aragorn Inc. purchased the following securities: During 2013, Aragorn received interest from Mirkwood and

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During January 2013, Aragorn Inc. purchased the following securities:
During January 2013, Aragorn Inc. purchased the following securities:
During 2013,

During 2013, Aragorn received interest from Mirkwood and the U.S. Treasury totaling $3,630. Dividends received on the stock held amounted to $1,760. During November 2013, Aragorn sold 200 shares of the Gimli stock at $17 per share and 250 shares of the Glorfindel stock at $19 per share.
Give the journal entries required by Aragorn to record the
(1) Purchase of the debt and equity securities;
(2) Receipt of interest and dividends during 2013; and
(3) Sale of the equity securities during November?

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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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