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* Question 4 Swifty Co. had purchased 160 shares of Washington Co. for $44 each this year (Oregon Co. does not have significant influence). Swifty

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* Question 4 Swifty Co. had purchased 160 shares of Washington Co. for $44 each this year (Oregon Co. does not have significant influence). Swifty Co. sold 80 shares of Washington Co. stock for $50 each. At year- end, the price per share of the Washington Co. stock had dropped to $38 Prepare the journal entries for these transactions and any year-end adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record the purchase.) To record the sale.) (To record the fair value.)

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