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Prepare the journal entries for these transactions

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Reference no: EM132603792

Question - Crane Co. had purchased 200 shares of Washington Co. for $36 each this year (Oregon Co. does not have significant influence). Crane Co. sold 100 shares of Washington Co. stock for $42 each. At year-end, the price per share of the Washington Co. stock had dropped to $30.

Prepare the journal entries for these transactions and any year-end adjustments.

Reference no: EM132603792

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