Pudget Sound Co. sold marketable securities costing $80,000 for $92,000 cash. In the company’s journal entry, the entry will include (Identify the two correct answers): a A credit to marketable securities of $92,000 b A credit to marketable securities of $80,000 c A debit to cash of $92,000 d A credit to unrealized gain of $12,000

Pudget Sound Co. sold marketable securities costing $80,000 for $92,000 cash. In the company’s journal entry, the entry will include (Identify the two correct answers): a A credit to marketable securities of $92,000 b A credit to marketable securities of $80,000 c A debit to cash of $92,000 d A credit to unrealized gain of $12,000

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Description: Indicate the best answer(s) for each question:Pudget Sound Co. sold marketable securities costing $80,000 for $92,000 cash. In the company’s journal entry, the entry will include (Identify the two correct answers): a

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1EB: Provide journal entries to record each of the following transactions. For each, identify whether the...

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