On April 18, Dice Co. made a short-term investment in 500 common shares of XLT Co. The purchase price is $45 per share and the broker”s fee is $150. The intent is to actively manage these shares for profit. On May 30, Dice Co. receives $1 per share from XLT in dividends. Prepare the April 18 and May 30 journal entries to record these transactions.
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