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On May 20. Montero Co. paid $186.000 to acquire 60 shares (10%) of ORD Corp. as a long-term Investment. On August 5, Montero sold one-tenth
On May 20. Montero Co. paid $186.000 to acquire 60 shares (10%) of ORD Corp. as a long-term Investment. On August 5, Montero sold one-tenth of the ORD shares for $21,000 1. Prepare entries to record both the acquisition and the sale of these shares. 2 Should this stock Investment be reported at fair value or at cost on the balance sheet? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries to record both the acquisition and the sale of these shares. View transaction at View Journal entry workahost .... No Date General Journal Credit Debit 185.000 1 May 20 Stock investments Cash 188,000 2 Aug 05 Cash 21,000 Stock investments Gain on sale of stock investments Required Required 2 >
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