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Please help: How much gain was recognized on the sale of the stock? How much cash inflow did this transaction create for Sensor? Sensor was
Please help:
How much gain was recognized on the sale of the stock? How much cash inflow did this transaction create for Sensor?
Sensor was carrying the investment at $5,100,000 and sold it to Greenco for $8,000,000. So they booked a $2,900,000 gain on the transaction,
Journalise the transaction: General journal Account Title and Explanation Account Title aExpanation Debit (S) Credit (S) cash 8,000,000 Investment Profit and loss 5,100,000 2,900,000 To record the sale of investment)Step by Step Solution
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