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Prepare journal entries to record the preceding information

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Question - Southeast bank invests in trading securities and prepares quarterly financial statements. At the beginning of the fourth quarter of 2013, the bank held as trading securities250 shares of Eglan Company common stock that originally cost 6875. At that time, these securities held a fair market value of 6500. Prepare journal entries to record the preceding information for the fourth quarter.

Reference no: EM132079260

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