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Need help on E,F,G,H a. Purchased 400 shares of Corporation A stock at $40 per share. This security is classified as trading. Credit Date Account
Need help on E,F,G,H
a. Purchased 400 shares of Corporation A stock at $40 per share. This security is classified as trading. Credit Date Account Investments (trading security) Cash Debit 16,000 16,000 b. Purchased 60, $1,000 of Corporation B bonds for $60,000. These bonds are classified as trading. Credit Date Account Investments (trading security) Cash Debit 60,000 60,000 C. Received a cash dividend of $ 1.50 per share on the Corporation A stock. Credit Date Account Cash Dividend revenue Debit 600 600 d. Sold 100 shares of Corporation A stock for $46 per share. Credit Debit 4,600 Date Account Cash Investments (trading security) Realized gain or loss 4,000 600 e. Received interest of $600 on the Corporation B bonds. Date Account Debit Credit f. Purchase 50 shares of Corporation C stock for $3,500. Classified the stock as trading Date Account Debit Credit g. Received interest on $600 on the Corporation B bonds. Date Account Debit Credit h. Sold 150 shares of Corporation A stock for $28 per share. Date Account Debit CreditStep by Step Solution
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