Prepare general journal entries for the following transactions involving short-term securities (assume no investments were held prior to the following transactions):
(a)Feb 16: Purchased 500 City Corp shares at $35 per share.Commission was $30.
(b)Feb 26: Purchased 800 Southside Corp shares at $25 per share,no commission.
(c)Mar 2: Received a $4 per share dividend on the City Corp shares.
(d)Mar 28: Sold 150 shares of City Corp at $40 per share.
(e)April 20: Sold 250 shares of Southside Corp at $20 per share.
(f)April 30: End of the quarter.The company is preparing quarterly statements.Fair values for securities are as follows: City Corp $42 per share,and Southside Corp $21 per share.
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