Question: Use the data from E-S-3 and E-S-4 for this exercise. Flores sells its entire investment of the Sherman common stock on November 22, 2019, for

Use the data from E-S-3 and E-S-4 for this exercise. Flores sells its entire investment of the Sherman common stock on November 22, 2019, for a total of $67,050. Record the entries for the sale.

Data from E-S-3 and E-S-4

Flores Company purchases 900 shares of Sherman Express common stock at the market price of $79.24 on March 23, 2018. (Flores’ investment in Sherman represents less than 5% of the outstanding stock of Sherman; Flores does not have significant influence over Sherman.) Flores intends to hold this investment for more than one year. On June 22, 2018, Flores receives a cash dividend of $0.31 per share of the Sherman stock. Record the entries to

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