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On January 1 6 , Toriz Inc. purchased 9 , 3 0 0 shares of Xiang Corporation common stock at $ 1 8 per share

On January 16, Toriz Inc. purchased 9,300 shares of Xiang Corporation common stock at $18 per share plus a $186 brokerage commission. On July 26, Xiang paid a $0.62 cash dividend per share. On October 15,4,200 shares of Xiang stock were sold for $2 per share less a $125 brokerage commission. The journal entry for the sale would include a:
debit to Loss on Sale of Investments $12,391
debit to Cash for $88,200
credit to Investments - Xiang Corp. Stock $75,684
credit to Gain on Sale of Investments $12,600
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