Haladam Company had the following transactions relating to investments in trading securities during the year.Prepare the required general journal entries for these transactions.
May 4 Haladam purchased 600 shares of Cob Company stock at per share plus a brokerage fee.
July 1 Haladam received a \$2.50 per share cash dividend on the Cob Company stock.
Sept. 15 Sold 300 shares of the Cob Company stock for per share, less a brokerage fee.
Dec. 31 The market value of the Cob Company stock (the only investment that Haladam owns) is \$124 per share. The balance of the Market Adjustment - Trading a zero balance prior to adjustment.
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