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On April 18, Riley Co. made a short-term investment in 390 common shares of XLT Co. The purchase price is $51 per share and t
On April 18, Riley Co. made a short-term investment in 390 common shares of XLT Co. The purchase price is $51 per share and t
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Answer #1
Date General Journal Debit Credit
Apr 18 Short-term investments $20,230
Cash $20,230
(390 x $51 = $19,890 + $340) = $20,230
May 30 Cash $741
Dividend Revenue $741
(390 x $1.90)
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