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In its first year of operations, Wildhorse Corporation purchased, as a long-term investment, available-for-sale debt securities costing $65,000. At December 31, 2020, the fair value
In its first year of operations, Wildhorse Corporation purchased, as a long-term investment, available-for-sale debt securities costing $65,000. At December 31, 2020, the fair value of the securities is $60,500. Prepare the adjusting entry to record the securities at fair value.
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