Question

Prepare Vikon Company’s journal entries to reflect the following transactions for the current year.
May 7 Purchases 200 shares of Felton stock as a short-term investment in available-for-sale securities at a cost of $100 per share plus $400 in broker fees.
June 6 Sells 200 shares of its investment in Felton stock at $112 per share. The broker’s commission on this sale is $250.


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  • CreatedMarch 18, 2015
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