Transactions involving the short-term securities investments

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Reference no: EM131259922

Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2013.

a. On March 22, purchased 890 shares of RIP Company stock at $28 per share plus a $210 brokerage fee. These shares are categorized as trading securities.

b. On September 1, received a $3 per share cash dividend on the RIP Company stock purchased in transaction a.

c. On October 8, sold 445 shares of RIP Co. stock for $38 per share, less a $200 brokerage fee.

Reference no: EM131259922

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