a. Purchased 460 shares of Redburn Fine Foods common stock at $31 per share (less than 15 % of Redburn's outstanding stock), with the intent of holding the stock for the indefinite future.

b. Received a cash dividend of $1.90 per share on the Redburn investment .

c.At year-end , adjusted the investment account to fair value of $41 per share

d. Sold the Redburn stock for $20 per share .

Review the following long-term, equity security transactions of Roya Department Sloces (1) (Click the icon to view the transactions) Requirement 1. Journalize the long-term, equity security transactions of Roya Department Stores a. Purchased 460 shares of Redburn Fine Foods common stock at $31 per share (less than 15% of Redburn's outstanding slock) with the intent of holding the stock for the indelinite future. (Record debins first, then credits Exclude explanations from any jocinal eniries )