Bliss Company exchanged 500 common shares of Davos Company, which Bliss was holding as an investment, for equipment from East Company.The Davos Company common shares, which had been purchased by Bliss for $50 per share, had a quoted market value of $58 per share at the date of exchange.The equipment had a recorded amount on East's books of $26,500.What journal entry should Bliss make to record this exchange?

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The Answer of Bliss Company exchanged 500 common shares of Davos Company, which Bliss was holding as an investment, for equipment from East Company.The Davos Company common shares, which had been purchased by Bliss for $50 per share, had a quoted market value of $58 per share at the date of exchange.The equipment had a recorded amount on East's books of $26,500.What journal entry should Bliss make to record this exchange?

Bliss Company Exchanged 500 Common Shares of Davos Company, Which