On May 2, 2014, Sysco Industries Inc. acquired 1,200 common shares of Computer Web Corp. at $40.50

Question:

On May 2, 2014, Sysco Industries Inc. acquired 1,200 common shares of Computer Web Corp. at $40.50 per share. Sysco’s intent is to sell the shares within eight to ten months. On August 7, Sysco received dividends of $0.50 per share regarding the Computer Web investment. Record the entries on May 2 and August 7.