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Gilkey Corp. has the following securities in its portfolio of trading equity securities on December 31, 2018: All of the securities had been purchased in
Gilkey Corp. has the following securities in its portfolio of trading equity securities on December 31, 2018: All of the securities had been purchased in 2018. The following transactions occurred in 2019: March 1: Sold 5,000 shares of Marby Corp . common at $30. April 1: Bought 600 shares of Vance Corp. at $45. Required: a) Prepare the adjusting entry required on December 31, 2018. b) Prepare the journal entry required on March 1, 2019. c) Prepare the journal entry required on April 1, 2019
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