smiley007
Jan 29, 2009, 06:46 AM
Sold marketable securities for 25,000. Recognize a gain of 5,000. What is the journal entry?:confused:
ROLCAM
Jan 29, 2009, 08:25 AM
DR Securities Account ------------20,000
DR Gain on Sale of Securuties a/c 5,000
CR Bank Account -------------------------25,000
Being Sold marketable securities for $25,000. Recognizing a gain of $5,000.