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Wells Inc. reported these transactions relating to marketable Held for Trading Investments intended to generate net income and to be sold in the near term:

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Wells Inc. reported these transactions relating to marketable Held for Trading Investments intended to generate net income and to be sold in the near term: Feb 1 Purchased 500 shares of Taylor Corp. for $7,500 cash. Jun 1 Received cash dividends of $3 per share on Taylor shares Oct 1 Sold 200 shares of Taylor Corp. for $3,800. Dec 31 Taylor shares were trading at $13.50 per share. Reference: Ref 12-1 The entry to record the purchase of the Taylor shares on Feb 1 would include a Select one: A. debit to Long-Term Held for Trading Investments, B. debit to Held for Trading Investments. c. debit to Strategic Investments, D. debit to investment in Associates

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