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Record the entries in journal for the sale

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Question - Omar Corporation, which has begun investing in trading securities, engaged in the following transactions:

Jan. 6 Purchased 7,000 shares of Quaker Oats stock, $30 per share.

Feb. 15 Purchased 9,000 shares of EG&G, $22 per share.

At year end on December 31, 2019, Quaker Oats was trading at $40 per share, and EG&G was trading at $18 per share. Record the entries in journal for the sale of all the EG&G shares on August 20 for $16 per share.

Reference no: EM133133178

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