Question
On February 1, Rinehart Company purchased 790 shares (2% ownership) of Givens Company common stock for $32 per share. On March 20, Rinehart Company sold
On February 1, Rinehart Company purchased 790 shares (2% ownership) of Givens Company common stock for $32 per share. On March 20, Rinehart Company sold 158 shares of Givens stock for $4,582. Rinehart received a dividend of $1 per share on April 25. On June 15, Rinehart sold 316 shares of Givens stock for $12,008. On July 28, Rinehart received a dividend of $1.25 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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)
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