Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 860 shares of RPI Company stock at $28 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 430 shares of RPI stock for $38 per share.

• On March 22, purchased 860 shares of RPI Company stock at $28 per share. Duke's stock investment results in it having an insignificant influence over RPI.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
a.

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

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
b.

• On October 8, sold 430 shares of RPI stock for $38 per share.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
c.