Prepare Hertog Companys journal entries to reflect the following transactions for the current year. May 7 Purchases

Question:

Prepare Hertog Company’s journal entries to reflect the following transactions for the current year.
May 7 Purchases 200 shares of Kraft stock as a short- term investment in available-for- sale securities at a cost of $ 50 per share plus $ 300 in fees.
June 6 Sells 200 shares of its investment in Kraft stock at $ 56 per share. The broker’s commission on this sale is $ 150.

Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...