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Prepare the journal entries for the original purchase

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Reference no: EM132692216

Problem - On September 1, 1,500 shares of Monroe Company are acquired at a price of $24 per share plus a $40 brokerage commission. On October 14, a $0.60-per-share dividend was received on the Monroe Company stock. On November 11, 750 shares (half) of Monroe Company stock were sold for $20 per share less a $45 brokerage commission. Prepare the journal entries for the original purchase, dividend, and sale.

Reference no: EM132692216

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