On February 20, 5000 shares of Rhymer Company are acquired at a price of $51 per share plus $250 brokerage fee. On September 10, a $1.10 per share dividend was received on the Rhymer Company stock. On october 5, 2000 shares of the Rhymer Companystock were sold for $45 per share less a $100 brokerage fee.
Using the cost method, prepare the journal entries for the purchase, dividend, and the sale of the stock.