On May 20, Montero Company paid $252,000 to acquire 115 shares (7%) of ORD Corporation...
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Accounting
On May Montero Company paid $ to acquire shares of ORD Corporation as a longterm investment. On August Montero sold onetenth of the ORD shares for $Prepare entries to record both the acquisition and the sale of these shares.Should this stock investment be reported at fair value or at cost on the balance sheet?
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