How to journalize the transactions

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Reference no: EM132727558

Question - Sandhill Inc. had the following transactions pertaining to investments in common stock.

Jan.1 Purchased 1,900 shares of Escalante Corporation common stock (4%) for $115,520 cash.

July 1 Received a cash dividend of $4 per share.

Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash.

Dec. 31 Received a cash dividend of $4 per share.

Required - How to journalize the transactions?

Reference no: EM132727558

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