Question
Dean Consulting invests its temporary excess cash in a brokerage account. On November 3, 2017, Dean purchased 900 shares of Go Data Co. common stock
Dean Consulting invests its temporary excess cash in a brokerage account. On November 3, 2017, Dean purchased 900 shares of Go Data Co. common stock for $35 per share. On December 31, 2017, Go Data's common stock was trading at $4 per share. Assume Dean records the stock as a trading investment.
Requirements 1: Journalize the acquisition of Go Data stock on November 3, 2017. (Record debits first, then credits. Input the explanation on the last line of the journal entry table.)
Requirements 2: Journalize any entries, if required, at December 31, 2017. (Record debits first, then credits. Input the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the accounts column and leave the remaining cells balnk.)
Requirements 3: On January 25, 2018, Dean sold the Go Data stock for $35.70 per share. Journalize the sale. (Record debits first, then credits. Input the explanation on the last line of the journal entry.)
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