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2. Hubbard Company had the following trading securities in its portfolio at December 31. The Fair Value Adjustment-Trading account had a balance of zero prior

2. Hubbard Company had the following trading securities in its portfolio at December 31. The Fair Value Adjustment-Trading account had a balance of zero prior to year-end adjustment. Prepare the appropriate adjusting journal entry. Fair Value Short-Term Investments Cost 24,500 25,900 48,600 XBM Micro Outel 51,00 62,300 61,000 29,90 30.200 Dull Totals S167.700 S165,700

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