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Premier Services, Inc. purchased 2% of the voting stock of Blue Investments, Inc. on January 3, 2025 for $40,000. On March 5, 2025, Premier sold

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Premier Services, Inc. purchased 2% of the voting stock of Blue Investments, Inc. on January 3, 2025 for $40,000. On March 5, 2025, Premier sold the stock for $41,000. Which of the following is the correct journal entry for the March 5 transaction? 41,000 O A. Cash Gain on Disposal Equity Investments-Blue Investments, Inc. 1,000 40,000 B. Equity Investments-Blue Investments, Inc. Cash 40,000 40,000 re OC. Cash Loss on Disposal Equity Investments-Blue Investments, Inc. 40,000 1,000 41,000 OD. Cash Equity Investments-Blue Investments, Inc. 40,000 40,000

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