Problem:
Please show the correct account description name & amount for each part of the question.
Wyrick Inc. had the following transactions pertaining to investments in common stock.
Jan 1 - Purchased 2,500 shares of Murphy Corporation common stock (5%) for $140,000 cash plus $2,100 broker's commission
July 1 - Received a cash dividend of $3 per share
Dec 1 - Sold 500 shares of Murphy Corporation common stock for $32,000 cash, less $800 broker's commission
Dec 31 - Received a cash dividend of $3 per share
Instructions: Journalize the transactions.