Prepare Hertog Companys journal entries to reflect the following transactions for the current year. May 7 Purchases 200 shares of Kraft stock as a short-term investment in trading securities at a cost of $50 per share plus $300 in broker fees. June 6 Sells 200 shares of its investment in Kraft stock at $56 per share. The brokers commission on this sale is $150.

Cash?

Short-term InvestmentsTrading (Kraft) ?

Gain on sale of short-term investments ?