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On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. On August 22, Lucas paid
On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. On August 22, Lucas paid a dividend per share of 10.42. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a 5160 brokerage fee. The journal entry to record the purchase would indude a Ca. credit to Cash for $132,000 Ob dabit to Investments-Lucas Company Stock for $132,000) Oc debit to Investmmts-Lucas Company Stock for 51.12.248 Od odit to Investmants-Local Company Stock for $240
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