On August 1, Basil Company buys 2,000 shares of Zingo common stock for $61,500 cash. On December 1, the stock investments are sold for $76,000 in cash. Which of the following are the correct journal entries of record for the purchase and sale of the common stock? 
Definitions:
Bonus Pay
Additional compensation given to employees as a reward for achieving specific goals, performance levels, or for exceptional work beyond their regular pay.
Merit Pay
A system of compensation where employees are awarded pay increases or bonuses based on their performance or achievements.
Profit-Sharing
A compensation strategy where employees receive a share of the company's profits, typically as a supplement to their regular income.
Lump-Sum Payments
A single payment made at a particular time, as opposed to multiple payments made over a period of time.
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