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Journ Co. purchased short-term investments in available-for-sale securities at a cost of $50,000 on November 25, 2013. At December 31, 2013, these securities had a

Journ Co. purchased short-term investments in available-for-sale securities at a cost of $50,000 on November 25, 2013. At December 31, 2013, these securities had a fair value of $47,000. This is the first and only time the company has purchased such securities.

1.

Prepare the December 31, 2013, year-end adjusting entry for the securities' portfolio.

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