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Flounder Corporation had the following transactions: Aug. 1 Purchased 12,400 Reynolds Corp. common shares for $124,000 with the intention of trading them. Sept. 10 Received

Flounder Corporation had the following transactions: Aug. 1 Purchased 12,400 Reynolds Corp. common shares for $124,000 with the intention of trading them. Sept. 10 Received a dividend on the Reynolds shares of $1.40 per share. Oct. 22 Sold half of the investment in Reynolds shares at $13 per share. Dec. 30 Reynolds declares a dividend of $1.45 per share, payable next year. 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 Debit Credit

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