Prepare Hertog Companys journal entries to reflect the following transactions for the current year.

May 7

	Purchases 240 shares of Kraft stock as a short-term investment in trading securities at a cost of $54 per share plus $340 in broker fees.
June 6	Sells 240 shares of its investment in Kraft stock at $60 per share. The brokers commission on this sale is $170.

1.

Record the purchase of 240 shares of Kraft stock as a short-term investment in trading securities at a cost of $54 per share plus $340 in broker fees.

2.

Record the sale of 240 shares of its investment in Kraft stock at $60 per share. The brokers commission on this sale is $170.