Prepare the journal entry at year-end

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Problem 1: Crane has a stock portfolio valued at $7,300. Its cost was $5,200. If the Fair Value Adjustment account has a debit balance of $420, prepare the journal entry at year-end. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Reference no: EM132708407

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