Prepare Vikon Companys journal entries to reflect the following transactions for the current year. May 7 Purchases

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 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.
Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...