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Record the entries for the purchase of stock

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Reference no: EM132879220

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, (b) the receipt of dividends, and (c) the sale of 1,000 shares.

Reference no: EM132879220

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