Jerrod Company owns the following securities, which it is interested in selling:
|
Security |
Type |
Cost |
Market Adjustments |
Market Price |
|
Monsen Company |
Available for sale |
$ 4,000 |
$ 300 increase |
$ 5,000 |
|
Jensen Company |
Trading |
7,500 |
1,000 decrease |
5,500 |
|
Stic Company |
Available for sale |
3,200 |
500 increase |
4,000 |
|
Larouse Company |
Held to maturity |
10,000 |
None |
11,000 |
Prepare the journal entry to record the sale of these securities.