Prepare the Journal Entries for the Following Transactions for Batson $\$ 20.75$

question 63

Essay

Prepare the journal entries for the following transactions for Batson Co. (a) 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.
(b) Michael's total earnings for the period are $\$ 84,000$ .
(c) Michael's paid a total of $\$ 40,000$ in cash dividends to sharehol ders of record.

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