In its first year of operations, Machin Corporation purchased available-for-sale stock securities costing $72,000 as a long-term
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In its first year of operations, Machin Corporation purchased available-for-sale stock securities costing $72,000 as a long-term investment. At December 31, 2017, the fair value of the securities is $69,000. Prepare the adjusting entry to record the securities at LO15 fair value.
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Related Book For 
Financial Accounting
ISBN: 9781118953907
8th Edition
Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso
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