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Brandy Corporation's trading portfolio at the end of the year is as follows: Security Cost Fair Value Common Stock C $10,000 $12,000 Common Stock
Brandy Corporation's trading portfolio at the end of the year is as follows: Security Cost Fair Value Common Stock C $10,000 $12,000 Common Stock D 8,000 5,000 $18,000 $17,000 Brandy subsequently sells Stock D for $10,000. What entry is made to record the sale? Cash.. Stock Investments.. 10,000 10,000 O Cash.. 10,000 Fair Value Adjustment-Trading.. 2,000 Stock Investments... 8,000 O Cash.. Stock Investments... Gain on Sale of Stock Investments. Cash. Stock Investments. Gain on Sale of Stock Investments.. 10,000 8,000 2,000 10,000 5,000 5,000
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