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Concord Corporation purchased $500$ shares of Nolan Inc. common stock for $$15,700($Concord does not have significant influence$).$

During the year, Nolan paid a cash dividend of $$4\mathrm{.}45$ per share. At year$-$end, Nolan stock was selling for $$35\mathrm{.}75$ per share.

Your answer is incorrect.

Prepare Concord's journal entry to record the purchase of the investment. $($List all debit entries before credit entries. 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 $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

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List of Accounts