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On April 18, Riley Co. made a short-term investment in 440 common shares of XLT Co. The purchase price is $56 per share and the

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On April 18, Riley Co. made a short-term investment in 440 common shares of XLT Co. The purchase price is $56 per share and the broker's fee is $390. The intent is to actively manage these shares for profit. On May 30, Riley Co. receives $1.30 per share from XLT in dividends. Prepare the April 18 and May 30 joumal entries to record these transactions. view transaction list view general journal Journal Entry Worksheet On April 18, Riley Co. made a short-term investment in 440 common shares of XLT Co. The purchase price is $56 per share and the broker's fee is $390. The intent is to actively manage these shares for profit. eral Journal Debit Credit Apr 18 Enter debits before credits record entry

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