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Prepare lander journal entry to record this sale

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Reference no: EM133190007

Question - Landers, Incorporated held 1,500 of Shipman Company common stock with a cost of $36,900. The investment is considered a stock investment with insignificant influence. Landers sold the shares on December 13 for $42,100 cash. Prepare Lander's journal entry to record this sale.

Reference no: EM133190007

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