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Journalize the entries to record the selected equity

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Reference no: EM132544343

Question 1: Journalize the entries to record the following selected equity investment transactions completed by Perry Company during the current year. Perry accounts for this investment using the cost method.

Feb. 2 Purchased for cash 900 shares of Dexter Co. stock for $54 per share plus a $450 brokerage commission. This represents a less than 10% ownership interest in the company.

Apr. 16 Received dividends of $0.25 per share on Dexter Co. stock. June 17 Sold 200 shares of Dexter Co. stock for $70 per share less a $500 brokerage commission.

Aug. 19 Purchased 600 shares of Dexter Co. stock for $65 per share plus a $300 brokerage commission.

Nov. 14 Received dividends of $0.30 per share on Dexter Co. stock.

Reference no: EM132544343

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