(Equity Investment— T rading) Oregon Co. had purchased 200 shares of Washington Co. for $40 each this year and classified the investment as a trading security. Oregon Co. sold 100 shares of the stock for $45 each. At year-end, the price per share of the Washington Co. stock had dropped to $35.
P r epa r e the journal entries for these transactions and any yea r -end adjustments.
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