Question
On December 12, 2016, an investment costing $82,000 was sold for $104,000. The total of the sale proceeds was credited to the investment account. Required:
| On December 12, 2016, an investment costing $82,000 was sold for $104,000. The total of the sale proceeds was credited to the investment account. |
| Required: |
| 1. & 2. | Prepare the following journal entries (Ignore income taxes). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) |
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Introductory Accounting Finance And Auditing For Lawyers
Authors: Lawrence Cunningham
6th Edition
0314280456, 978-0314280459
