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Accounting for Sale of Stock On March 5, Plantain sold stock in another company for $11,600. Plantain bought the stock on February 14 for $10,100.
Accounting for Sale of Stock On March 5, Plantain sold stock in another company for $11,600. Plantain bought the stock on February 14 for $10,100. Identify and analyze the transaction on Plantain's books on March 5. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign
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