On August 16, 2016, Blenim Corp purchases 6,000 shares of common stock in Mountain Inc at a market p

On August 16, 2016, Blenim Corp purchases 6,000 shares of common stock in Mountain Inc at a market p

On August 16, 2016, Blenim Corp purchases 6,000 shares of common stock in Mountain Inc at a market price of $17 per share In addition, Blenim pays brokerage fees of $2,000 On October 21, 2016, Blenim sells the Mountain stock for $12 per share 

REQUIRED: Prepare all necessary entries on Blenim’s books in connection with the investment beginning with the purchase of the common stock on August 16, 2016, and the sale on October 21, 2016

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