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Prepare entries for the purchase and the sale

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Question - Short Farm Supplies Corporation purchased 1,500 shares of General Motors stock at $64 per share and paid a brokerage fee of $2,600. Two months later. the shares were sold for $67 per share. The brokerage fee on the sale was $2,700.

Required - Prepare entries for the purchase and the sale.

Record the purchase of General Motors common shares. Record the sale of General Motors common shares.

Reference no: EM132567655

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