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On June 20, Blaney Company purchased 2,000 shares of ABC Company common stock for $32...

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Accounting

On June 20, Blaney Company purchased 2,000 shares of ABC Company common stock for $32 per share plus a $75 brokerage fee.

These shares are categorized as short-term investment in trading securities.

On September 8, Blaney Company receives $.60 per share in dividends from ABC Company. A correct entry to receord the receipt of the dividends is:

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