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Exercise 17-8 Grouper Corporation purchases equity securities costing $71,100. At December 31, the fair value of the portfolio is $64,400. Prepare the adjusting entry to
Exercise 17-8 Grouper Corporation purchases equity securities costing $71,100. At December 31, the fair value of the portfolio is $64,400. Prepare the adjusting entry to report the securities properly, assuming that the investments purchased represent less than a 5% interest in the other companies. Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit
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