Murray Corporation began investing in trading securities in 20x6. At the end of 20x6, it had the
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Murray Corporation began investing in trading securities in 20x6. At the end of 20x6, it had the following trading portfolio:
Prepare the necessary year-end adjusting entry on December 31 and the entry for the sale of all the Skyline shares on the following March 23 for $95,000.
Cost-Adjusted-to-Market Method
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