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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
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 1,400 shares of Wong Inc. stock for $40 per share plus a $700 brokerage commission.
Mar. 16 Received dividends of $0.20 per share on Wong Inc. stock.
June 7 Purchased 800 shares of Wong Inc. stock for $48 per share plus a $400 brokerage commission.
July 26 Sold 1,550 shares of Wong Inc. stock for $53 per share less a $775 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold.
Sept. 25 Received dividends of $0.30 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.
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