Jarvis Corporation Makes an Investment in 100 Shares of Saxton

Multiple Choice

Jarvis Corporation makes an investment in 100 shares of Saxton Company's common stock. The stock is purchased for $45 a share plus brokerage fees of $280. The entry for the purchase is ?

A) Cash 4,500
Investments-Saxton Company Stock 4,500

B) Investments-Saxton Company Stock 4,780
Cash 4,780

C) Investments-Saxton Company Stock 4,500
Brokerage Fee Expense 280
Cash 4,780

D) Investments-Saxton Company Stock 4,500
Cash 4,500