Washington Corp. held 1,500 of Vashon Company common stock with a cost of $74,387. The investment is considered a stock investment with insignificant influence. Washington sold the shares on December 13 for $55,275 cash. Prepare Washington's journal entry to record this sale.
What will be an ideal response?
| Dec 13 | Cash | 55,000 | ? |
| ? | Loss on Sale of Stock Investments | 19,000 | ? |
| ? | Stock Investments | ? | 74,000 |
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