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The Corporation had these transactions pertaining to stock investments: March 23 - Purchased 2,000 shares of...

The Corporation had these transactions pertaining to stock investments: March 23 - Purchased 2,000 shares of X Corp (10%) for $51,000. June 18 - Received cash dividends of $2 per share on X Corp stock. Oct. 12 - Sold 1,200 shares of X Corp stock for $32,400. The entry to record the sale of the stock would include a debit to Cash for $30,600. credit to Gain on Sale of Stock Investments for $1,200. debit to Stock Investments for $30,600. credit to Gain on Sale of Stock Investments for $1,800.

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