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Prepare the journal entries for these transactions

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1. Equity Investment-Trading Feiner Co. had purchased 300 shares of Guttman Co. for $40 each this year and classified the investment as a trading security. Feiner Co. sold 100 shares of the stock for $43 each. At year end the price per share of the Guttman Co. stock had dropped to $35. Prepare the journal entries for these transactions and any year-end adjustments.

Reference no: EM131116232

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