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Prepare journal entries for the following transactions: CGWO has an unrealized gain of $866,673.75...

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Accounting

Prepare journal entries for the following transactions:

  1. CGWO has an unrealized gain of $866,673.75 on its main operating investment account.
  2. CGWO purchased equipment in the amount of $250,000 with cash
  3. CGWO sells equipment with a historical cost of $175,000 and accumulated depreciation of $139,500. Cash proceeds equal $62,000.

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