Stein Company had the following transactions pertaining to its short-term stock investments. Stein owns more than 20% of the Pine Company stock and has significant influence in decision-making.

Jan. 1

June 1

Sept. 15

Purchased 50,000 shares of Pine Company stock as an investment for $499,750 cash plus brokerage fees of $250.

Received cash dividends of $0.25 per share on the Pine Company stock investment.

Sold 2,000 shares of the Pine Company stock investment for $220,100 less brokerage fees of $100.

Instructions

Journalize the transactions.

DATE	ACCOUNT	DEBIT	CREDIT