Morgan Company purchased 2,000 shares of Asta's common stock for $143,000 as a long-term investment.The investment is classified as available-for-sale securities.The par value of the stock was $1 per share.Morgan paid $375 in commissions on the transaction.The entry to record the transaction would include a:
A) Credit to Common Stock for $2,000.
B) Credit to Common Stock for $143,000.
C) Credit to Common Stock for $143,375.
D) Debit to Long-Term Investments-AFS for $143,000.
E) Debit to Long-Term Investments-AFS for $143,375.
Correct Answer:
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