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White Corporation sells 300 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $60
White Corporation sells 300 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $60 a share. White sold the shares for $40 a share. The entry to record the sale is.......... A) DR CASH 12000/ CR STOCK INVESTMENTS 12000.....B) DR CASH 18000/ CR GAIN ON SALE OF STOCK 6000/ CR STOCK INVESTMENT 12000.... C) DR STOCK INVESTMENTS 12000/ DR LOSS ON SALE OF STOCK 6000/ CR CASH 18000....D) DR CASH 12000/ DR LOSS ON SALE OF STOCK 6000/ CR STOCK INVESTMENTS 18000
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