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On March 24, 2018, Tim Company purchased 10,000 shares of Kristin Inc. stock for $13 per share and paid a $3,000 commission fee. At the
On March 24, 2018, Tim Company purchased 10,000 shares of Kristin Inc. stock for $13 per share and paid a $3,000 commission fee. At the time of the purchase, Kristin Inc. had 100,000 shares outstanding. On July 31, 2018, Kristin declared and paid a dividend of $1.50 per share The closing price on Kristin's stock on December 31, 2018 was $11 per share. Tim sold all 10.000 shares of its Kristin's Inc. stock on February 1, 2019 for $12 per share. On the date of the sale. Tim's journal entry to record the transaction would include: Select one: a, a credit to Investment in Kristin Inc. for $10,000 b. a debit to Investment in Kristin Inc. for $110,000 Cadebit to Gain on the sale of Investment for $120,000 d. a debit to Gain on the sale of Investment for $10,000 e. a credit to Gain on the sale of Investment for $10,000 Next @
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