On May 2, 2020, Systematic Industries Inc. acquired 1,200 common shares of Computer Gaming Corp. at $40.50
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On May 2, 2020, Systematic Industries Inc. acquired 1,200 common shares of Computer Gaming Corp. at $40.50 per share. 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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2020 May 2 Investment x Computer GamingSha...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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