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A) Lexington Co. has the following le securities outstanding on December 31, 2012 (its first year of operations). During 2013, Summerset Company stock was sold
A) Lexington Co. has the following le securities outstanding on December 31, 2012 (its first year of operations). During 2013, Summerset Company stock was sold for $9,200, The market price of the stock on December 31,201 :, was: Greenspan Corp. stock $19,900; Tinkers Company stock $20,500. Required: 1) Record the adjusting entry at Dec. 31, 2012. 2) Record the entries during 2013.0 A) Lexington Co. has the following le securities outstanding on December 31, 2012 (its first year of operations). During 2013, Summerset Company stock was sold for $9,200, The market price of the stock on December 31,201 :, was: Greenspan Corp. stock $19,900; Tinkers Company stock $20,500. Required: 1) Record the adjusting entry at Dec. 31, 2012. 2) Record the entries during 2013.0
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