16

On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. On August 22, Lucas paid a dividend per share of $0.42. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee. The journal entry to record the purchase would include a

a. debit to InvestmentsLucas Company Stock for $132,240

b. credit to InvestmentsLucas Company Stock for $240

c. debit to InvestmentsLucas Company Stock for $132,000

d. credit to Cash for $132,000