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Review the following long-term equity security transactions of Johnson Department Stores Click the icon to view the transactions) Requirement 1. Journalize the long-term equity security
Review the following long-term equity security transactions of Johnson Department Stores Click the icon to view the transactions) Requirement 1. Journalize the long-term equity security transactions of Johnson Department Stores a. Purchased 470 shares of Chang Fine Foods common stock at $34 por share (less than 5% of Chang's outstanding stock), with the intent of holding the stock for the indefinite future (Record debits first, then credits Exclude explanations from any journal entrios) Journal Entry Accounts Debit Credit th be More info a. Purchased 470 shares of Chang Fine Foods common stock at $34 per share (less than 5% of Chang's outstanding stock), with the intent of holding the stock for the indefinite future b. Received a cash dividend of $1.90 per share on the Chang investment c. At year-end, adjusted the investment account to fair value of $37 per share d. Sold the Chang stock for $26 per share
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