a$.$ On March $22,$ purchased $720$ shares of RPI Company stock at $$18$ per share. Duke's stock investment results in it having an insignificant influence over RPI.

b$.$ On July $1,$ received a $$2$ per share cash dividend on the RPI stock purchased in part a$.$

c$.$ On October $8,$ sold $360$ shares of RPI stock for $$28$ per share.

Exercise $15-8($Algo$)$ Accounting for stock investments with insignificant influence LO P$4$

Prepare journal entries to record the given transactions involving the short$-$term stock investments of Duke Company, all of which occurred during the current year.

Journal entry worksheet

$1$

$2$

$3$

On March $22,$ purchased $720$ shares of RPI Company stock at $$18$ per share. Duke's stock investment results in it having an insignificant influence over RPI.

Note: Enter debits before credits.