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Required information [The following information applies to the questions displayed below.) On August 4, 2019, Bennett Corporation purchased 4,400 shares of Plummer Company for $246,400.
Required information [The following information applies to the questions displayed below.) On August 4, 2019, Bennett Corporation purchased 4,400 shares of Plummer Company for $246,400. The following information applies to the stock price of Plummer Company 12/31/2019 12/31/2020 12/31/2021 Price $ 55 60 64 Plummer Company declares cash dividends of $4.00 per share on June 1 of each year and pays the dividends on July 1 of each year. Required: 1. Prepare journal entries to record the facts in the case, assuming that Bennett purchased the shares as a passive investment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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