Chan Corporation sells 100 common shares being held as a trading investment. The shares were acquired six months ago at a cost of $50 a share Chan sold the shares for $40 a share. The entry to record the sale is:

Question

Quizplus · Accepted Answer

The Answer of Chan Corporation sells 100 common shares being held as a trading investment. The shares were acquired six months ago at a cost of $50 a share Chan sold the shares for $40 a share. The entry to record the sale is:

Chan Corporation Sells 100 Common Shares Being Held as a Trading