Response to the following problem:
On February 27, Ball Corporation acquired 3,000 shares of the 50,000 outstanding shares of Beach Co. common stock at 40.75 plus commission charges of $150. On July 8, a cash dividend of $1.50 per share and a 2% stock dividend were received.
On December 7, 1,000 shares were sold at 49, less commission charges of $60.
Prepare the entries to record
(a) the purchase of the stock,
(b) the receipt of dividends, and
(c) the sale of the 1,000 shares.