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Question - A company purchased $17,500 of common shares in Danis Corporation on September 1, 2008. This investment was properly classified as a held-for-trading investment. At December 31, 2008, the end of the investor's fiscal year, the investment had declined in value to $16,400. On December 1, 2009, the company received $700 in dividends from the investment. On December 2, 2009, the investment was sold for $18,600. Prepare journal entries for 2008 through 2009 relating to the above transactions.
Financial Statement Analysis and Preparation
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