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Make the journal entry to record the sale

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Question - On February 15, Jewel Company buys 8,600 shares of Marcelo Corp. common stock at $29.33 per share. The stock is classified as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.55 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $30.10 per share. Make the journal entry to record the sale of the 4,300 shares of stock on November?

Reference no: EM132684698

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