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Determine stock investment transactions

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Reference no: EM132486000

Stock Investment Transactions

Point 1: On September 12, 3,500 shares of Aspen Company are acquired at a price of $58.00 per share plus a $175 brokerage commission. On October 15, a $1.20-per-share dividend was received on the Aspen Company stock. On November 10, 1,400.00 shares of the Aspen Company stock were sold for $53 per share less a $70 brokerage commission.

Point 2: When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.

Question 1: Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method.

Reference no: EM132486000

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