The following equity investment transactions were completed by Romero Company during a recent year: Apr. 10 Purchased 5,000 shares of Dixon Company for a price of $25 per share plus a brokerage commission of $75. July 8 Received a quarterly dividend of $0.60 per share on the Dixon Company investment. Sept. 10 Sold 2,000 shares for a price of $22 per share less a brokerage commission of $120.   Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...
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The following equity investment transactions were completed by Romero Company during a recent year:
Apr. 10 Purchased 5,000 shares of Dixon Company for a price of $25 per share plus a brokerage commission of $75.
July 8 Received a quarterly dividend of $0.60 per share on the Dixon Company investment.
Sept. 10 Sold 2,000 shares for a price of $22 per share less a brokerage commission of $120.
 
Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles.
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