Venetta Coulbourne: Answer:It is recorded in the cash receipts journal.(Dr) Cash $xxxxx(Cr) Marketable Securities $xxxxx(Cr) Gain on sale of Marketable Securities $xxxxxExample: A marketable securities with a book value of $1000 is sold for $1100.It is recorded in the cash receipts journal as follows;(Dr) Cash $1100(Cr) Marketable Securities $1000(Cr) Gain on sale of marketable securities $100...Show more
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