On March $22,$ purchased $800$ shares of RPI Company stock at $$11$ per share. Duke's stock investment results in it having an insignificant influence over RPI.

On July $1,$ received a $$2$ per share cash dividend on the RPI stock purchased in part a$.$

On October $8,$ sold $400$ shares of RPI stock for $$21$ per share.

Prepare journal entries to record the given transactions involving the short$-$term stock investments of Duke Company, all of which occurred during the current year.

Answer rating: 100% (QA)

Answer To record the given transactions involving the shortterm stock investments ... View the full answer