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Prepare Riley Company's journal entries to record the following transactions for the current year. ...

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Accounting

Prepare Riley Company's journal entries to record the following transactions for the current year.
April 18 Purchases 470 common shares of XLT Company as a short-term investment at a cost of $59 per share. With this stock investment, Riley has an insignificant influence over XLT.
May 30 Receives $1.60 per share from XLT in dividends.
Journal entry worksheet
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Purchases 470 common shares of XLT Company as a short-term investment at a cost of $59 per share. With this stock investment, Riley has an insignificant influence over XLT.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[April 18,,,],[,,,],[,,,],[,,,]]
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