Question
Jackson company engaged in the following investment transactions: feb 17 Purchased 500 shares of Medical company common stock for $20 per share. These are trading
Jackson company engaged in the following investment transactions: feb 17 Purchased 500 shares of Medical company common stock for $20 per share. These are trading securities. June 25 Received a $1.20 per share dividend on the Medical Company Common Stock Oct 1 Purchased 2000 shares of Alpha Company for $15 per share. These are classified as available for sale. Dec 31 Medical Co shares are selling for $25 per share and Alpha stock is selling for $12 each. Jan 15 Sold the Alpha Company stock for $10 per share What are the journal entries for these transactions?
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