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If the cost of an investment held for trading exceeds its fair value by $ 4 0 , 0 0 0 , the entry to

If the cost of an investment held for trading exceeds its fair value by $40,000, the entry to recognize the lossSelect one:will show a debit to a holding gain or loss account that appears in the other expenses section of the income statement.will show a debit to an expense account in the operating section of the income statement.is not required since the share prices will likely rebound in the long run.will show a credit to a contra asset account that appears in the shareholders' equity section of the balance sheet.

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