Nagen Company Had These Transactions Pertaining to Share Investments:
$£ 49,800$

Nagen Company had these transactions pertaining to share investments:

Feb. 1 Purchased 3,000 shares of Horton Company (10\%) for $£ 49,800$ cash plus brokerage fees of $£ 1,200$ .
June 1 Received cash dividends of $£ 2$ per share on Horton stock.
Oct. 1 Sold 1,200 shares of Horton stock for $£ 24,000$ less brokerage fees of $£ 600$ .

The entry to record the sale of the shares would include a

A) debit to Cash for $£ 24,000$ .
B) credit to Gain on Sale of share Investments for $£ 1,200$ .
C) debit to Share Investments for $£ 20,400$ .
D) credit to Gain on Sale of Share Investments for $£ 3,000$ .