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On February 1 5 , Jewel Company buys 8 , 6 0 0 shares of Marcelo Corp. common stock at $ 2 9 . 3
On February Jewel Company buys shares of Marcelo Corp.
common stock at $ per share. The stock is classified as a
stock investment with insignificant influence. This is the
companys first and only stock investment. On March Marcelo
Corp. declares a dividend of $ per share payable to
stockholders of record on April Jewel Company received the
dividend on April and ultimately sells half of the Marcelo Corp.
stock on November of the current year for $ per share. The
journal entry to record the sale of the shares of stock on
November is:
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