Landers, Inc., held 1,500 of Shipman Company common stock with a cost of $36,900. It sold the shares on December 13 for $42,100. Prepare Lander's journal entry to record this sale.
What will be an ideal response?
| Dec 13 | Cash. | 42,100 | ? |
| ? | Stock Investments | ? | 36,900 |
| ? | Gain on Sale of Stock Investments | ? | 5,200 |
Business
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