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Bramble Corporation purchased 510 common shares of Ditch Inc. for $13,700 on February 21. Bramble paid a 1% commission on the share purchase and, because
Bramble Corporation purchased 510 common shares of Ditch Inc. for $13,700 on February 21. Bramble paid a 1% commission on the share purchase and, because the shares were not publicly traded, decided to account for them following the cost model. On June 30, Ditch declared and paid a cash dividend of $1.50 per share. Prepare Bramble Corporation's journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit February 21 Prepare Bramble Corporation's journal entry to record the dividends received. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) P EN Prepare Bramble Corporation's journal entry to record the dividends received. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the acount titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit June 30 fth Ditch Inc shares in early lanuary the following year for Prepare Brambil Corporation's journal entry to record the sale of the Ditching shares in early January the following year for 515,700 less a 1% commission pold on the sale,Credit thematically indented win the bed. De natally. If no entry is required "No Entryfw the antities and enter for the amounts) Debit Credit Account Titles and Explanation Atmotsat ud SA
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