Business, 26.02.2020 03:58 kingteron5870

J. P. Industries purchased 2,000 shares of Yang's common stock for $143,000 as a long-term investment. The investment is classified as available-for-sale securities. The par value of the stock was $1 per share. J. P. paid $375 in commissions on the transaction. J. P.'s entry to record the purchase transaction would include a.
a. Credit to Common Stock for $2,000.b. Credit to Common Stock for $143,000.c. Credit to Common Stock for $143,375.d. Debit to Long-Term Investments-AFS for $143,000.e. Debit to Long-Term Investments-AFS for $143,375.

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J. P. Industries purchased 2,000 shares of Yang's common stock for $143,000 as a long-term investmen...

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