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ABC Company purchased, for cash, marketable securities on March 5 at a total cost of $45,000. On June 7, ABC Company sold half of these
ABC Company purchased, for cash, marketable securities on March 5 at a total cost of $45,000. On June 7, ABC Company sold half of these securities for $25,000. The marketable securities were sold for cash. To record the sale of marketable securities on June 7: Select one: a Cash is debited for $25,000; Marketable Securities is credited for $22,500; Gain on Sale of Investment is credited for $2,500 b. Cash is debited for $25,000; Marketable Securities is debited for $22,500; Gain on Sale of Investment is credited for $2,500 C. Cash is debited for $25,000; Marketable Securities is credited for $45,000; Loss on Sale of Investment is debited for $20,000 d. Cash is debited for $25,000; Marketable Securities is credited for $22,500; Gain on Sale of Investment is debited for $2,500
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