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What the journal entry to record the sale

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Question - Nodus Company sells, for $700,000, 30% of the shares it owns in Fischer Company. The carrying value of the Equity Investment relating to these shares is $620,000 on the date of sale. What the journal entry to record the sale assuming Nodus keeps control over Fischer?

a. Equity investment, debit, $620,000

b. Equity investment, credit, $700,000

c. APIC, credit, $80,000

d. APIC, debit, $80,000

Reference no: EM132726986

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