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On February 1, Blossom Company purchased 300 shares (2% ownership of Givens Company common stock for $32 per share. On March 20, Blossom Company sold
On February 1, Blossom Company purchased 300 shares (2% ownership of Givens Company common stock for $32 per share. On March 20, Blossom Company sold 60 shares of Givens stock for $1,740. Blossom received a dividend of $2.00 per share on April 25. On June 15, Blossom sold 120 shares of Givens stock for $4,560. On July 28, Blossom received a dividend of $1.00 per share. Prepare the journal entries to record the transactions described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round answers to o decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Stock Investments 9600 TCash 9600 TMar. 20 cash Loss on Sale of Stock Investments Stock Investments 1800 Apr. 25 - TCash Dividend Revenue June 15 Cash 4560 Stock Investments 3840
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