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Determine the amount of cash Durango received

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Reference no: EM132852754

Problem - Working Backward: Investment in Stock - On its December 31, 2016, income statement, Durango reported a loss on sale of stock of $4,500. The loss resulted from the sale of 2,000 shares of ABC Corp. stock that Durango purchased during 2016 at $25 per share, excluding $500 in commissions to buy the shares.

Required - Determine the amount of cash Durango received from the sale of the ABC stock.

Reference no: EM132852754

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