Oregon Co. had purchased 211 shares of Washington Co. for $42 each this year and...
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Accounting
Oregon Co. had purchased 211 shares of Washington Co. for $42 each this year and classified the investment as a trading security. Oregon Co. sold 166 shares of the stock for $45 each. At year-end, the price per share of the Washington Co. stock had dropped to $34. Prepare the journal entries for these transactions and any year-end adjustments
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