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Just need help with the journal entry for Feb 14th On June 30, 2016, Slick Rocks, Inc., purchased 9,000 shares of Sandstone stock for $16
Just need help with the journal entry for Feb 14th
On June 30, 2016, Slick Rocks, Inc., purchased 9,000 shares of Sandstone stock for $16 per share. Management recorded the stock in the available-for-sale securities portfolio. The following information pertains to the price per share of Sandstone stock: 12/31/2016 12/31/2017 12/31/2018 Price $21 18 25 Slick Rocks sold all of the Sandstone stock on February 14, 2019, at a price of $27 per share. Prepare any journal entries that are required by the facts presented in this case. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)Step by Step Solution
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