Question
On February 1, Sage Hill Company purchased 1,100 shares (2% ownership) of Wynne Company common stock for $25 per share. On March 20, Sage
On February 1, Sage Hill Company purchased 1,100 shares (2% ownership) of Wynne Company common stock for $25 per share. On March 20, Sage Hill Company sold 235 shares of Wynne stock for $5,405. Sage Hill received a dividend of $1.20 per share on April 25. On June 15, Marcus sold 330 shares of Wynne stock for $9,350. Prepare the journal entries to record the transactions described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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