An adjustment to record the investment at fair value

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Reference no: EM13795316

Fickle Financial buys and sells securities, expecting to earn profits on short-term differences in price. On December 28, Fickle purchased Microsoft common shares for $485,000. On December 31, the shares had a fair value of $483,000. Record the initial investment by Fickle and, if appropriate, an adjustment to record the investment at fair value.

Reference no: EM13795316

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