16 On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22...
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On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. On August 22, Lucas paid a dividend per share of $0.42. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee. The journal entry to record the purchase would include a
a. debit to InvestmentsLucas Company Stock for $132,240
b. credit to InvestmentsLucas Company Stock for $240
c. debit to InvestmentsLucas Company Stock for $132,000
d. credit to Cash for $132,000
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