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ABC corpration purchased a short term investment on july 1,2007 for RS.200000.company sold out the same investment on 20th september for RS.180000.pass necessary journal entries? July 1, 2007 Debit Investment In Equity Securities 200,000 Credit Cash In Bank 200,000 September 20, 2007 Debit Cash In Bank 180,000 Debit Loss on Sale of Investment 20,000 Credit Investment in Equity Securities 200,000 Source(s):Accounting Student i think there should be two different entries, one for purchase and other one for sale
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