Hayes Company sold 10,000 shares of Kenyon Co. that it bought in question 14 for $27.50 per

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Hayes Company sold 10,000 shares of Kenyon Co. that it bought in question 14 for $27.50 per share, incurring $1,770 in brokerage commissions. The carrying value of the investment is $260,000. Prepare the entry to record the sale of this investment.

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Intermediate Accounting

ISBN: 978-0470616314

IFRS edition volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jun 17, 2013 02:49 AM

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Hayes Company sold 10,000 shares of Kenyon Co. that it bought in question 14 for $27.50 per

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Gross selling price of 10000 shares at 2750 275000 Less Bro...View the full answer

Intermediate Accounting

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