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Carla Vista Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 1,900 shares of Escalante Corporation common stock (4%) for $115,520 cash July 1 Received a cash dividend of $4 per share. Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash. Dec. 31 Received a cash dividend of $4 per share. Journalize the transactions. (List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit ||||

Carla Vista Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 1,900 shares of Escalante Corporation common stock (4%) for $115,520 cash July 1 Received a cash dividend of $4 per share. Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash. Dec. 31 Received a cash dividend of $4 per share. Journalize the transactions. (List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit ||||

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Carla Vista Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 1,900 shares of Escalante Corporation common stock (4%) for $115,520 cash July 1 Received a cash dividend of $4 per share. Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash. Received a cash dividend of $4 per share. Dec. 31 Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit C
Transcribed Image Text:Carla Vista Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 1,900 shares of Escalante Corporation common stock (4%) for $115,520 cash July 1 Received a cash dividend of $4 per share. Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash. Received a cash dividend of $4 per share. Dec. 31 Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit C
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