Dossett Company had the following transactions pertaining tostock investments
Feb. 1 Purchase 600 shares of Goetz common stock (2%) for $ 6000cash, plus brokerage fees of $200
July 1 Receive cash dividends for $1 per share on Goetz commonstock
Instructions
Journalize the transactions
Explain how dividend revenue and the gain (loss) on sale shouldbe reported in the income statement