On february 12 6000 shares of lucas company are acquired at, Ask an Expert

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On February 12, 6,000 shares of Lucas Company are acquired at aprice of $22 per share plus a $240 brokerage fee. On April22, a $0.42-per-share dividend was received on the Lucas Companystock. On May 10, 4,000 shares of Lucas stock were sold for $28 pershare less a $160 brokerage fee.

Required:

Prepare the journal entries for the original purchase, dividend andsale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9991887

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