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In its first year of operations, Blossom Corporation purchased, available-for-sale debt securities costing $65,500 as a long-term investment. At December 31, 2022, the fair value

In its first year of operations, Blossom Corporation purchased, available-for-sale debt securities costing $65,500 as a long-term investment. At December 31, 2022, the fair value of the securities is $60,950. Prepare the adjusting entry to record the securities at fair value.

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