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What the journal entry for the purchase is

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Problem 1: Jarvis Corporation makes an investment in 100 shares of Saxton Company's common stock. The stock is purchased for $45 a share plus brokerage fees of $280. The journal entry for the purchase is

a. Cash4,500 Investments-Saxton Company Stock4,500
b. Investments-Saxton Company Stock4,500 Cash4,500
c. Investments-Saxton Company Stock4,780 Cash4,780
d. Investments-Saxton Company Stock4,500Brokerage Fee Expense280 Cash4,780

Reference no: EM132985619

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