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Fickle Financial buys and sells securities, expecting to earn profits on short term differences in price. On December 28, Fickle purchased Microsoft common stock shares

Fickle Financial buys and sells securities, expecting to earn profits on short term differences in price. On December 28, Fickle purchased Microsoft common stock shares for $485000. On December 31, the shares had a fair value of $483000. Record the initial investment by Fickle and, if appropriate, an adjustment to record the investment at fair value.

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