Accounting question STOCK INVESTMENT PROBLEM!?

Jerome Corporation makes a short-term investment in 160 shares of Singer Company’s common stock. The stock is purchased for $50 a share plus brokerage fees of $550. The entry for the purchase is Debt Investments 8,000 Cash 8,000 Stock Investments 8,000 Cash 8,000 Stock Investments 8,000 Brokerage Fee Expense 550 Cash 8,550 Stock Investments 8,550 … Read more