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Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2017. a. On
Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2017. a. On March 22, purchased 720 shares of RIP Company stock at $24 per share plus a(n) $270 brokerage fee. These shares are categorized as trading securities. b. On September 1, received a $2 per share cash dividend on the RIP Company stock purchased in transaction a. c. On October 8, sold 360 shares of RIP Co. stock for $34 per share, less a(n) $260 brokerage fee
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