problem 6.2

Problem 6.2 Charlene owns shares (available-for-sale) of Ruan Bros. Inc. purchased as follows: Year Shares Total Cost 2017 100 P2,500 2018 150 4,500 In 2019, a 20% share dividend was received. Needing cash, Charlene sold all her share dividend at P25 per share, and credited the proceeds to Investment Income Account. Required: Identify the entry made, correct entry and adjusting entry