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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.
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 770 shares of RPI Company stock at $26 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 385 shares of RPI stock for $36 per share
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