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Please help preparing my journal entries below. Thank you!

Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2015.

a.

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.

b.

On September 1, received a $3 per share cash dividend on the RIP Company stock purchased in transaction a.

c.

On October 8, sold 435 shares of RIP Co. stock for $34 per share, less a $190 brokerage fee.

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  • Category:- Accounting Basics
  • Reference No.:- M91792822

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