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Record the entries for the purchase of stock

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Problem - Entries for investment in stock, receipt of dividends, and sale of shares

On February 17, Walters Corporation acquired 4,000 shares of the 100,000 outstanding shares of Lycore Co. common stock at $22.50 plus commission charges of $200. On July 11, a cash dividend of $0.80 per share was received. On December 4, 1,000 shares were sold at $28.30, less commission charges of $125.

Record the entries for (a) the purchase of stock.

Record the entries for (b) the receipt of dividends.

Record the entries for (c) the sale of 1,000 shares.

Reference no: EM132683677

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