Amount received on sale of investment is credited to
Asked by admin @ in Accountancy viewed by 477 People
Journal entry for received on sale of investment
Answered by admin @
Answer:
Investment Cost
The initial purchase of the other company's stock increases your investment account and decreases your cash account on your balance sheet. To record this in a journal entry, debit your investment account by the purchase price and credit your cash account by the same amount.
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