Question: Use the data given in Short Exercise. On May 21, 2011, Ship Your Way sold its investment in Naradon stock for $27 per share. Apr

Use the data given in Short Exercise. On May 21, 2011, Ship Your Way sold its investment in Naradon stock for $27 per share.

Apr 10 Purchased 400 shares of Naradon stock, paying $22 per share. Ship Your Way intends to hold the investment for the indefinite future.

1. Journalize the sale. No explanation is required.

2. How does the gain or loss that you recorded here differ from the gain or loss that was recorded at December 31, 2010?


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