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On January 16, Toriz Inc. purchased 9,300 shares of Xiang Corporation common stock at $18 per share plus a 5186 brokerage commission. On July 26
On January 16, Toriz Inc. purchased 9,300 shares of Xiang Corporation common stock at $18 per share plus a 5186 brokerage commission. On July 26 Xiang paid a 50.62 cash dividend per share. On October 15.4.200 shares of Xiang stock were sold for 521 per share less a 5125 brokerage commission. The journal entry for the sale would include a: a. debit to Loss on Sale of Investments 512,391 b. credit to Gain on Sale of Investments $12.600 c. credit to investments - Xiang Corp. Stock 575,684 d. debit to Cash for $88,200
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