On February 1, Milo Company purchased 1,000 shares (2% ownership) of Werth Company common stock for $30 per share plus brokerage fees of $400. On March 20, Milo Company sold 200 shares of Werth stock for $5,800, less a $50 brokerage fee. Milo received a dividend of $1.00 per share on April 25. On June 15, Milo sold 300 shares of Werth stock for 9,800 less a $100 brokerage fee.
Instructions
Prepare the journal entries to record the transactions described above.

Question

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The Answer of On February 1, Milo Company purchased 1,000 shares (2% ownership) of Werth Company common stock for $30 per share plus brokerage fees of $400. On March 20, Milo Company sold 200 shares of Werth stock for $5,800, less a $50 brokerage fee. Milo received a dividend of $1.00 per share on April 25. On June 15, Milo sold 300 shares of Werth stock for 9,800 less a $100 brokerage fee.
Instructions
Prepare the journal entries to record the transactions described above.

On February 1, Milo Company Purchased 1,000 Shares (2% Ownership)