On September 15,Nolan Company Purchases 2,000 Shares of Francis Company

Multiple Choice

On September 15,Nolan Company purchases 2,000 shares of Francis Company common stock for $30,000,including $500 of commissions and brokerage fees.This is Nolan's first and only purchase of this type of investment.On November 1,Nolan sold 500 shares of the Francis Company stock for $8,200.On December 31,the fair value of Francis Company common stock was $16 per share.The journal entry to record the purchase on September 15 is:

A) Debit Stock Investments - Francis Company,$30,000; Credit Cash,$30,000.
B) Debit Stock Investments - Francis Company,$29,500; Credit Cash,$29,500.
C) Debit Trading Securities,$30,000; Credit Cash,$30,000.
D) Debit Investments - HTM,$30,000; Credit Cash,$30,000.
E) Debit Cash,$30,000; Credit Stock Investments - Francis Company,$30,000.