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Brogdon Company purchases debt investments as trading securities at a cost of $100,000 on June 15. This is the first and only purchase of such

Brogdon Company purchases debt investments as trading securities at a cost of $100,000 on June 15. This is the first and only purchase of such securities. At December 31 these securities had a fair value of $102,000. The December 31 year-end fair value adjusting entry for the trading securities portfolio includes a

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