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Prepare the adjusting entry at December

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Question - At December 31, 2020, the trading securities for Paul Company are as follows:

Security

Cost

Fair Value

AXZ

$116,000

$120,000

BKY

134,000

132,000

 

$250,000

$252,000

Prepare the adjusting entry at December 31, 2020, to report the securities at fair value.

Reference no: EM132427688

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