On March 1,2014,Emma's Toy Store purchased Hasbro stock for $33,400,as a short-term available-for-sale security.On April 10,dividends of $1,075 were received from the Hasbro stock.On December 31,2014,the end of Emma's Toy Store's accounting year,the Hasbro stock had a market value of $34,300.On January 1,2015,Emma's Toy Store sold all of the Hasbro stock for $35,000.
Required:
Prepare the journal entries needed to record the transactions for 2014 and 2015.Explanations are not required.
Correct Answer:
Verified
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