Help Save & Exit Submit On January 4. Year 1, Barber Company purchased 13,000 shares of Convell Company for $160,200 Corwell Company has a total of 65,000 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Corvell. During each of the next two years. Convell declared and paid cash dividends of $0 85 per share, and its net income was $120,000 and $115,000 for Year 1 and Year 2, respectively The January 2, Year 3. entry to record Barber's sale of 7,800 shares of Convell Company stock, which represents 60% of Barber's total investment, for $105,300 cash, should be Multiple Choice Debit Cash $105,300, debit loss on Sale of Stock Investment 59.180, credit Equity Method Investmens 596,120 Debit Cash $105.300: debit Loss on Sale of Investment 55760, credit Equity Method Investments $11,060 Debit Cash $105,300, credit Gain on Sale of Stock Investment $22.100 credit Equity Method Investments 583 200 Debit Cash $105,300, debit Loss on Sale of Stock Investment $9,180, credit Equity Method Investments $96,120 Debit Cash $105,300, debit Loss on Sale of Investment $5760, credit Equity Method Investments $111,060 O Debit Cash $105,300 credit Gain on Sale of Stock Investment $22,300 credit Equity Method Investments $83,200 Debit Cash $105,300, credit Gain on Sale of Stock Investment $22,100 credit Equity Method Investments 5127,400 Debit Coth $105,300debit Loss on Sale of Stock Investment 554,900; credit Equity Method investments $160,200 Prey 6 of 50 151 Next >