Question
February 2 Purchased for cash 500 shares of Braxter Co. stock for $34 per share plus a $250 brokerage commission. April 16 Received dividends of
February 2 Purchased for cash 500 shares of Braxter Co. stock for $34 per share plus a $250 brokerage commission. April 16 Received dividends of $0.35 per share on Braxter Co. stock. June 17 Sold 100 shares of Braxter Co. stock for $40 per share less a $100 brokerage commission. Required: Journalize the entries to record the above selected equity investment transactions completed by Flurry Company during the current year. Flurrys purchase represents less than 20% of the total outstanding Braxter stock. Refer to the Chart of Accounts for exact wording of account titles.
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