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4) Prepare general journal entries for the following transactions involving short- term securities (assume no investments were held prior to the following transactions): (a) Feb

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4) Prepare general journal entries for the following transactions involving short- term securities (assume no investments were held prior to the following transactions): (a) Feb 16: Purchased 500 City Corp shares at $35 per share. Commission was $30. (b) Feb 26: Purchased 800 Southside Corp shares at $25 per share, nocommission (c) Mar 2: Received a $4 per share dividend on the City Corp shares. (d) Mar 28: Sold 150 shares of City Corp at $40 per share. (e) April 20: Sold 250 shares of Southside Corp at $20 per share. (8) April 30: End of the quarter. The company is preparing quarterly statements Fair values for securities are as follows: City Corp $42 per share, and Southside Corp $21 per share

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