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Review the following long-term, equity security transactions of Hayer Department Stores: Click the icon to view the transactions) Requirement 1. Journalize the long-term, equity security transactions of Hayor Department Stores a. Purchased 480 shares of Bradley Fine Foods common stock at $32 per share less than 10% of Bradley's outstanding stock), with the intent of holding the stock for the indefinite future. (Record debits first, then credits Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit ind (0/2)
More info a. Purchased 480 shares of Bradley Fine Foods common stock at $32 per share (less than 10% of Bradley's outstanding stock), with the intent of holding the stock for the indefinite future. b. Received a cash dividend of $2.00 per share on the Bradley investment C. At year-end, adjusted the investment account to fair value of $36 per share. d. Sold the Bradley stock for $27 per share.