Shott Farm Supplies Corporation purchased 1, 250 shares of General Motors stock at $59 per share and paid a brokerage fee of $2, 100. Two months later, the shares were sold for $62 per share. The brokerage fee on the sale was $2, 200. Required: Prepare entries for the purchase and the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)