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Make any necessary journal entries for the years

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Question - Brave Entity acquires a financial asset for $50,000, and elects to classify the asset at fair value on March 1, 20X1. On December 31, 20X1, the fair value of the financial asset was $58,000. On December 31, 20X2, the fair value of the financial asset was $45,000. Make any necessary journal entries for the years 20X1 and 20X2.

Reference no: EM133066702

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