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Stock Investment Transactions On September 12, 2,300 shares of Aspen Company are acquired at a price of $60.00 per share plus a $115 brokerage commission.
Stock Investment Transactions On September 12, 2,300 shares of Aspen Company are acquired at a price of $60.00 per share plus a $115 brokerage commission. On October 15, a $0.90-per-share dividend was received on the Aspen Company stock. On November 10, 920.00 shares of the Aspen Company stock were sold for $54 per share less a $46 brokerage commission. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method. Sept. 12 Investments-Aspen Company Stock Accounts Receivable x Oct. 15 Investments-Aspen Company Stock x Dividend Receivable x Nov. 10 Investments-Aspen Company Stock x Gain on Sale of Investments x Cash x Feedback Check My Work When recording the purchase of the investment, consider the amount of the brokerage commission. Record the revenue earned. When recording the cash received, consider the brokerage fee. To complete the entry determine and gain or loss to be recorded
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