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CY Corporation purchases 10,000 shares of KCM Company for $16 per share. The company pays a brokerage fee of $1,500. The shares are classified as

CY Corporation purchases 10,000 shares of KCM Company for $16 per share. The company pays a brokerage fee of $1,500. The shares are classified as FVTPL. Required: Prepare the journal entry to record the purchase of shares.

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