Prepare the journal entries for the following transactions for Batson Co. Batson Co.
purchased 1,200 shares of the total of 100,000 outstanding shares of Michael Corp. stock for $20.75 per share plus a $70 commission. Michael's total earnings for the period are $84,000. Michael paid a total of $40,000 in cash dividends to shareholders of record. Hide If no entry is required, type "No Entry" and leave the amount boxes blank a. b. c.