On May 2, 2023, Systematic Industries Inc. acquired 1,200 common shares of Computer Gaming Corp. at $40.50

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On May 2, 2023, Systematic Industries Inc. acquired 1,200 common shares of Computer Gaming Corp. at $40.50 per share (including a transaction fee of $50). Systematic’s intent is to sell the shares within eight to ten months. On August 7, Systematic received dividends of $0.50 per share regarding the Computer Gaming investment. Record the entries on May 2 and August 7.

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Related Book For  answer-question

Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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