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During the November 15 board meeting, the Board of Directors decides to sell a portion of the investment portfolio they established during the July 15
During the November 15 board meeting, the Board of Directors decides to sell a portion of the investment portfolio they established during the July 15 board meeting. They sell 2500 shares of the portfolio at $65 per share. The proceeds from the sale are then reinvested into another portfolio with a cost that equals the proceeds just received. Prepare the journal entries to record these transactions.
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