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Turbo Co. purchased 1,000 shares of DBC for $23

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January 13th, 2018

Turbo Co. purchased 1,000 shares of DBC for $23 each this year and classified the investment as atrading security. Turbo sold 400 shares of the stock for $24 each. At year end the price per share ofthe DBC Company had increased to $26.Instructions :Prepare the journal entries for these transactions and any year-end adjustments.

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