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Blaine Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2,000 shares of Horton Company (10%) for $49,800 cash plus brokerage fees of
Blaine Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2,000 shares of Horton Company (10%) for $49,800 cash plus brokerage fees of $1, 200. June 1 Received cash dividends of S3 per share on Horton stock. Oct. 1 Sold 1, 200 shares of Horton stock for $24,000 less brokerage fees of S600. The entry to record the receipt of the dividends on June 1 would include a credit to Stock Investments for $6,000. credit to Dividend Revenue for $6,000. debit to Dividend Revenue for $6,000. debit to Stock Investments for $6,000
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