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1. On November 28, 20x7, Barrett Company purchased 20,000 shares of HAL Corporation common stock for $360,000. Barrett's management intends to hold the shares for
1. On November 28, 20x7, Barrett Company purchased 20,000 shares of HAL Corporation common stock for $360,000. Barrett's management intends to hold the shares for a short period of time. On December 31, 20x7, the price of HAL stock was $15 per share. Finally, on January 19, 20x8, Barrett sells all 20,000 shares for $375,000. Prepare Barrett's journal entries for November 28, December 31, and January 19.
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