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undefined Entries for Stock Investments, Dividends, and Sale of Stock Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment
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Entries for Stock Investments, Dividends, and Sale of Stock Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year: Feb. 2 Purchased for cash 800 shares of Wong Inc. stock for $36 per share plus a $400 brokerage commission. Mar. 16 Received dividends of $0.30 per share on Wong Inc. stock. June 7 Purchased 600 shares of Wong Inc. stock for $46 per share plus a $300 brokerage commission. July 26 Sold 900 shares of Wong Inc. stock for $51 per share less a $450 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.40 per share on Wong Inc. stock. In your computations, round per share amounts to two decimal places. 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. Feb. 2 Investments-Wong Inc. Stock 106,110 x Cash 106,110 x Mar. 16 Cash 1,590 X Dividend Revenue 1,590 X June 7 Investments-Wong Inc. Stock 52.125 x Cash 52,125 X Cash July 26 Gain on Sale of Investments Investments-Wong Inc. Stock Sept. 25 Cash Dividend RevenueStep by Step Solution
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