E16-3 Journalize the following investment transactions of Vemcor Manufacturing, Inc.: Aug. 1 Sep. 12 Nov. 23 Purchased

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E16-3 Journalize the following investment transactions of Vemcor Manufacturing, Inc.: Aug. 1 Sep. 12 Nov. 23 Purchased 500 shares (2%) of Vardaman Corporation common stock as a long- term available-for-sale investment, paying $44 per share. Received cash dividend of $1 per share on the Vardaman investment. Received 250 shares of Vardaman common stock in a 50% stock dividend. Round new cost per share to three decimal places. Dec. 4 Unexpectedly sold the Vardaman stock for $29 per share.

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