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Prepare the adjusting entry to report securities properly

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Reference no: EM131788367

Question - Player corporation purchases equity securities costing 73,000 and classifies them as available-for-sale securities. At Dec 31, the fair value of the portfolio is 67,000.

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

Reference no: EM131788367

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