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E17-14B (Equity Investment?Trading) AEP Co. purchased 1,000 shares of Sugarland Company for $22 each this year and classified the investment as a trading security. AEP sold 300 shares of the stock for $25 each. At year end the price per share of the Sugar

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E17-14B (Equity Investment?Trading) AEP Co. purchased 1,000 shares of Sugarland Company for $22 each this year and classified the investment as a trading security. AEP sold 300 shares of the stock for $25 each. At year end the price per share of the Sugarland Company had increased to $26.;Instructions;Prepare the journal entries for these transactions and any year-end adjustments.

 

Paper#78454 | Written in 18-Jul-2015

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