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Jackson Company engaged in the following investment transactions during the current year. Feb 17, 2018 purchased 500 shares of Medical Company common stock for $20
Jackson Company engaged in the following investment transactions during the current year.
- Feb 17, 2018 purchased 500 shares of Medical Company common stock for $20 per share plus a commission of $100. Those are trading securities.
- June 25, 2018 received $1.20 dividends per share on Medical Company common stock.
- December 31, 2018 Medical Company common shares market value is at $25 per share.
- January 3, 2019, the shares were sold for $19 each share.
Prepare Journal entries to record the four transactions.
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