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A corporation purchases 1,000 shares of Xerox stock as a short term investment. The cost per share is $100 and there is a broker s

A corporation purchases 1,000 shares of Xerox stock as a short term investment. The cost per share is $100 and there is a broker s fee of $2,000. It later sells these shares at $110 each and incurs a $3,000 brokers fee. Prepare entries for these transactions.

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