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Prepare the journal entries for the original purchase

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Reference no: EM132683630

Problem - Stock transactions

On February 12, 5,000 shares of Mid-Ex Company are acquired at a price of $24 per share plus a $200 brokerage fee. On April 22, a $0.36-per-share dividend was received on the Mid-Ex Company stock. On May 10, 4,000 shares of the Mid-Ex Company stock were sold for $31 per share less a $160 brokerage fee. Prepare the journal entries for the original purchase, dividend, and sale.

Reference no: EM132683630

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