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1 At December 31, 2020, ABC Company owned investments in 4,000 stock shares of BAB Inc. as marketable securities which had a cost of $14,545
1 At December 31, 2020, ABC Company owned investments in 4,000 stock shares of BAB Inc. as marketable securities which had a cost of $14,545 per share. During 2021, ABC Company had the following two transactions: November 8 Sold 1,700 stock shares of BAB Inc. at a price of $14.7 per share. For the sale of marketable securities, the amount of fees paid to the brokerage firm was $200. December 11 Sold 2,100 stock shares of BAB Inc. at a price of $13.7 per share. For the sale of marketable securities, the amount of fees paid to the brokerage firm was $200. Instructions: a. Prepare the journal entry to record the sale of marketable securities on November 8. b. Prepare the journal entry to record the sale of marketable securities on December 11
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