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Prepare entries for the following transactions involving short-term stock investments. February 1, Purchased 800 shares of Schwab Company stock at $12 per share. This stock

Prepare entries for the following transactions involving short-term stock investments. February 1, Purchased 800 shares of Schwab Company stock at $12 per share. This stock investment results in it having an insignificant influence over Schwab. March 31, Received a $1 per share cash dividend on the Schwab stock purchased on February 1. July 6, Sold 400 shares of Schwab stock for $22 per share.

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