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    smiley007's Avatar
    smiley007 Posts: 5, Reputation: 1
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    #1

    Jan 29, 2009, 06:46 AM
    Marketable securities
    Sold marketable securities for 25,000. Recognize a gain of 5,000. What is the journal entry?:confused:
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    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.
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