Hello,
Please help preparing my journal entries below. Thank you!
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Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2015.
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a.
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On March 22, purchased 870 shares of RIP Company stock at $24 per share plus an $200 brokerage fee. These shares are categorized as trading securities.
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b.
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On September 1, received a $3 per share cash dividend on the RIP Company stock purchased in transaction a.
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c.
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On October 8, sold 435 shares of RIP Co. stock for $34 per share, less a $190 brokerage fee.
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