On June 1, 2012, Rouge Corp Purchased Noir Corp Common

question 49

Multiple Choice

On June 1, 2012, Rouge Corp purchased Noir Corp common shares for $9,300 as a trading investment. Three months later, Rouge sold these shares for $10,000. The entry to record the sale would include a

• A)debit to Cash of $9,300.
• B)credit to Interest Revenue of $700.
• C)credit to Trading Investments of $10,000.
• D)credit to Realized Gain on Trading Investments of $700.

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Definitions:

Transitional Expression

Transitional expressions are words or phrases used to connect ideas together within and between sentences, enhancing the flow of writing.

Black Bass

A common term referring to several species of North American freshwater fish in the sunfish family.

Striped Bass

A popular game fish known for its distinctive dark stripes running along its body, commonly found in both freshwater and saltwater environments.

Contrast Paragraph

A section in writing that highlights differences between two or more subjects, ideas, or objects.