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Prepare the journal entries for these transactions

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Question - Flounder Co. had purchased 230 shares of Washington Co. for $38 each this year (Oregon Co. does not have significant influence). Flounder Co. sold 115 shares of Washington Co. stock for $44 each. At year-end, the price per share of the Washington Co. stock had dropped to $33. Prepare the journal entries for these transactions and any year-end adjustments.

Reference no: EM132681494

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