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The Company sells 400 shares of common stock being held as an investment. The shares were acquired four months ago at a cost of $60

The Company sells 400 shares of common stock being held as an investment. The shares were acquired four months ago at a cost of $60 a share. The Company sold the shares for $40 a share. The entry to record the sale includes a credit to Loss on Sale of Investments for $8,000 Investments for $16,000 Gain on Sale of Investments for $8,000 Investments for $24,000

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