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Make the adjusting general journal entry

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Question - One August 2, 2016, Alpha Company purchased 10,000 shares of Bravo Company stock, as trading securities, for $10 per share. On September 30, 2016 the securities were trading on the open market for $12.50 per share. On December 31, 2016, the closing market price for these securities was $9.50 per share. Use this information to prepare the adjusting General Journal entry (without explanation) for December 31. If no entry is required then write 'No Entry Required'.

Reference no: EM132430331

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