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ul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. ug 3 Received dividends of .70 per share from Wang ug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. ept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each $50 gach

ul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. ug 3 Received dividends of .70 per share from Wang ug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. ept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each $50 gach

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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Journalize the following investment transactions for Bonneau Inc. Jul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. Aug 3 Received dividends of .70 per share from Wang Aug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. Sept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each Dec 31 Market price of the Wang stock is $50 each Date JOURNAL Description PR DR Page CR
Transcribed Image Text:Journalize the following investment transactions for Bonneau Inc. Jul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. Aug 3 Received dividends of .70 per share from Wang Aug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. Sept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each Dec 31 Market price of the Wang stock is $50 each Date JOURNAL Description PR DR Page CR
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