Problem regarding the effects of the december

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Reference no: EM13991900

Ed owns 500 shares of Northern Company for which he paid $15,000 several years ago. On November 24, he purchases an additional 350 shares for $6,300. Ed sells the original 500 shares for $10,000 on December 14. What are the effects of the December 14 sale? Explain.

Reference no: EM13991900

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