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Malox Co. purchased short-term investments in available-for-sale securities at a cost of $100,000 on November 25, 2009. At December 31, 2009, these securities had a market value of $94,000. This is the first and only time the company has purchased such securities.
Requirement 1: Prepare the December 31, 2009, year-end adjusting entry for the securities' portfolio. (Omit the "$" sign in your response.) Date General Journal Debit Credit Dec. 31, 2009 Requirement 2: Prepare the April 6, 2010, entry when Malox sells one-fourth of these securities for $27,000
Date General Journal Debit Credit Apr. 6, 2010
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