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Jackson Company engaged in the following investment transactions during the current year. Feb. 17 Purchased 410 shares of Medical Company common stock for $25 per
Jackson Company engaged in the following investment transactions during the current year. Feb. 17 Purchased 410 shares of Medical Company common stock for $25 per share plus a brokerage commission of $50. Jackson does not have significant influence over Medical. April 1 Bought 21,000 of the 100,000 outstanding shares of Olde Company for $210,000. Goodwill of $71,000 was included in the price. June 25 Received a $1.10 per share dividend on Medical Company stock. June 30 Olde Company reported second-quarter profits of $11,000. Oct. 1 Purchased 1,100 bonds of Alpha Company for $16 per bond plus a brokerage fee of $310. These bonds are classified as securities available for sale. Dec. 31 Medical Co. shares are selling for $30 and Alpha stock is selling for $13. Required: Prepare the appropriate journal entries to record the transactions for the year including year-end adjustments. (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 12 3 3 4 5 6 7 > Purchased 410 shares of Medical Company common stock for $25 per share plus a brokerage commission of $50. Jackson does not have significant influence over Medical. Note: Enter debits before credits. General Journal Debit Credit Date Feb 17
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