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Flint Corporation had the following transactions: Aug. 1 Purchased 9,000 Reynolds Corp. common shares for $117,000 with the intention of trading them. Sept. 10
Flint Corporation had the following transactions: Aug. 1 Purchased 9,000 Reynolds Corp. common shares for $117,000 with the intention of trading them. Sept. 10 Received a dividend on the Reynolds shares of $1.10 per share. Oct. 22 Sold half of the investment in Reynolds shares at $16 per share. Dec. 30 Reynolds declares a dividend of $1.15 per share, payable next year. (a) Record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Sept 10 Dividends Receivable Dividend Income Oct 22 O Dividends Receivable Debit Credit
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