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Prepare adjusting entry to report the securities properly

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Reference no: EM131988184

Question - Available-for-Sale Securities Entries and Reporting

Satchel Corporation purchases equity securities costing $73,000 and classifies them as available-for-sale securities. At December 31, the fair value of the portfolio is $65,000.

Instructions - Prepare the adjusting entry to report the securities properly. Indicate the statement presentation of the accounts in your entry.

Reference no: EM131988184

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