On January 1, 2008, Santa Fe Accents, Inc., had a balance of $338,000 in the Investments account. During 2008, Santa Fe Accents sold investments for $125,000 cash, resulting in a $12,000 gain. On December 31, 2008, the Investments account showed a balance of $388,000. The investments purchased during 2008 totaled:
A) $300,000.
B) $163,000.
C) $75,000.
D) $175,000.
Correct Answer:
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