Spring Inc. had the following transactions pertaining to investments in - 14078

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Question 4

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Your answer is correct.

 

 

Spring Inc. had the following transactions pertaining to investments in common stock.

Jan. 1

 

Purchased 4,380 shares of Angeltide Corporation common stock (7%) for $245,280 cash plus $2,170 broker's commission.

July 1

 

Received a cash dividend of $5 per share.

Dec. 1

 

Sold 876 shares of Angeltide Corporation common stock for $56,064 cash, less $869 broker's commission.

Dec. 31

 

Received a cash dividend of $5 per share.

Instructions

Journalize the transactions. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.)

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