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During December of the current year, James Company acquired some of the 48,800 outstanding shares of the common stock, par $13, of Andrew Corporation as
During December of the current year, James Company acquired some of the 48,800 outstanding shares of the common stock, par $13, of Andrew Corporation as trading securities investments. The accounting period for both companies ends December 31. Dec 2 Purchased 6,310 shares of Andrew common stock at $23 per share. Dec 15 Andrew Corporation declared and paid a cash dividend of $2 per share. Dec 31 Determined the current market price of Andrew stock to be $19 per share. Prepare the journal entries for each of the above transactions that occurred during the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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