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Record the gain or loss on the Medical Company common stock

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Question - Brown Company was engaged in the following investment transaction during the current year.

February 17, Purchased 400 shares of Medical Company common stock for $15 per share plus brokerage commission of $150. Brown does not have significant influence over Medical Co.

Record the purchase of the Medical Company common stock

June 25, Brown received a $1.30 per share dividends for the Medical Co. common stock

Record the receipt of dividends

December 31, Brown sold the Medical Company shares at $20

Record the gain or loss on the Medical Company common stock.

Reference no: EM132698407

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