Krogstad Corporation bought $1,500$ shares of Cole Incorporated common stock for $$85$ per share Three months later, the sold for $$110$ per share.

Required:

Prepare the appropriate journal entry to record the purchase of the stock.

Prepare the appropriate journal entry to record the sale of the stock.

Complete this question by entering your answers in the tabs below.

Prepare the appropriate journal entry to record the purchase of the stock.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

Record the purchase of the stock.