Prepare the journal entries for the following transactions for Batson Co.(a)Batson Co. purchased 1,200 shares of the total of 100,000 outstanding
shares of Michael Corp. stock for $20.75 per share plus a $70 commission.(b)Michael's total earnings for the period are $84,000.(c)Michael's paid a total of $40,000 in cash dividends to shareholders of record.

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The Answer of Prepare the journal entries for the following transactions for Batson Co.(a)Batson Co. purchased 1,200 shares of the total of 100,000 outstanding
shares of Michael Corp. stock for $20.75 per share plus a $70 commission.(b)Michael's total earnings for the period are $84,000.(c)Michael's paid a total of $40,000 in cash dividends to shareholders of record.

Prepare the Journal Entries for the Following Transactions for Batson