Record the entry for the receipt of dividends

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Reference no: EM13320548

Entries for Investment in Stock, Receipt of Dividends, and Sale of Shares On February 17, Asher Corporation acquired 7,200 shares of the 250,000 outstanding shares of Dan Co. common stock at $41.80 plus commission charges of $1,440. On July 11, a cash dividend of $0.95 per share was received. On December 4, 2,400 shares were sold at $50, less commission charges of $288. a. Record the entry for the purchase of stock. Feb. 17 b. Record the entry for the receipt of dividends. July 11 c. Record the entry for the sale of 2,400 shares. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". Dec. 4

Reference no: EM13320548

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