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Crane Co. had purchased 180 shares of Washington Co. for $42 each this year (Oregon...

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Accounting

Crane Co. had purchased 180 shares of Washington Co. for $42 each this year (Oregon Co. does not have significant influence). Crane Co. sold 90 shares of Washington Co. stock for $48 each. At year-end, the price per share of the Washington Co. stock had dropped to $37. Prepare the journal entries for these transactions and any year-end adjustments

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