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use photo to answer please On February 15, Jewel Company buys 8,200 shares of Marcelo Corporation common stock at $29.13 per share. The stock is
use photo to answer please On February 15, Jewel Company buys 8,200 shares of Marcelo Corporation common stock at $29.13 per share. The stock is classitied as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corporation declares a dividend of $1.45 per share payable to stockholders of record on April 15 . Jewel Company recelved the dividend on April 15 and ulimately sells half of the Marcelo Corporation stock on November 17 of the current year for $29.90 per share. The joumal entry to record the sale of the 4,100 shares of stock on November 17 is: Multiple Choice Debit Cash $122.500 credz Long-Teim Investments-Avalable-for-Saie (AfS) $119,433, credit Gain on Sale of Long-Term investinents $3,157. Debit Cosh $122.590, cedit Stock Investmens $119,433, credit Gain on Sale of Sock investments $3.157. Debit Cash 122.590 , ereda long Term impesments - Trading 5119433 , debit Gain on 50 of Long- Terim Investinents $3.151 Debr Cash 5122590 debit Loss on Sale of Stock irveuments $3,157, ciedt Stock investmeats $119,433. Debit Cash $122,500, ciedit Long-Term inesments -Trading $119433, crect Gain on Sale of tong. Term investments $3,15
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