Journal entries for the original purchase

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Reference no: EM13147051

On February 12, 6, 000 shares of Lucas Company are acquired at a price of $22 per share plus a $240 brokerage fee. On April 22, a $.42-per share dividend was received on the Lucas Company stock. On May 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee.

Prepare the journal entries for the original purchase, dividend and sale.

Reference no: EM13147051

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