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Jarvis Corporation makes an investment in 100 shares of Saxton Company's common stock. The stock is purchased for $45 a share plus brokerage fees of
Jarvis Corporation makes an investment in 100 shares of Saxton Company's common stock. The stock is purchased for $45 a share plus brokerage fees of $280. The journal entry for the purchase is
a.
InvestmentsSaxton Company Stock | 4,500 | |
Brokerage Fee Expense | 280 | |
Cash | 4,780 |
b.
InvestmentsSaxton Company Stock | 4,500 | |
Cash | 4,500 |
c.
Cash | 4,500 | |
InvestmentsSaxton Company Stock | 4,500 |
d.
InvestmentsSaxton Company Stock | 4,780 | |
Cash | 4,780 |
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