Use the following information for the Exercises below. (Algo)

Skip to question

[The following information applies to the questions displayed below.]

1. On March 22, purchased 850 shares of RPI Company stock at $20 per share. Duke's stock investment results in it having an insignificant influence over RPI.
2. On July 1, received a $3 per share cash dividend on the RPI stock purchased in part a.
3. On October 8, sold 425 shares of RPI stock for $30 per share.

Exercise 15-8 (Algo) Accounting for stock investments with insignificant influence LO P4

Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year.