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Crosby Corporation Sells 400 Shares of Common Stock Being Held

Question 185

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Crosby Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $50 a share. Crosby sold the shares for $46 a share. The entry to record the sale is: Crosby Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $50 a share. Crosby sold the shares for $46 a share. The entry to record the sale is:

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