The Journal Entry to Record the Sale of an Available-For-Sale

question 17

Multiple Choice

The journal entry to record the sale of an available-for-sale investment includes a gain on sale of investment of $500. The income statement will reflect:

• A) an increase in net sales of $500.
• B) another income of $500.
• C) an extraordinary gain of $500.
• D) nothing, since the entry impacts only asset accounts.

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Definitions:

Paraffin Baths

A therapeutic treatment where hands or feet are dipped into melted paraffin wax to alleviate pain and stiffness.

Counter-Pressure

A technique used to relieve pain, especially during childbirth, involving the application of steady pressure to specific body parts.

Muscle Strength

The ability of a muscle or group of muscles to exert force against resistance.

Axillary Crutches

Mobility aids that are used to transfer weight from the legs to the upper body, specifically designed to fit under the armpits.