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J.P. Industries purchased Yang's notes for $143.375 as a long-term investment. The investment is classified as available-for-sale. J.P's entry to record the purchase transaction would
J.P. Industries purchased Yang's notes for $143.375 as a long-term investment. The investment is classified as available-for-sale. J.P's entry to record the purchase transaction would include a Multiple Choice Credit to Short-Term Investments AFS for $143,375 Credit to Long-Term Investments AFS for $143,375 Credit to Notes Payable for $143,375 Debit to Equity Investments-AFS for $143,375 Debit to Debt Investments-AFS for $143,375
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