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Julia Co. purchased a trading debt security on October 4 of the current year for $50,000. The market value of the stock investment at year-end
Julia Co. purchased a trading debt security on October 4 of the current year for $50,000. The market value of the stock investment at year-end is $47,000. What value will be reported in net income for the adjustment, if any?
A. 53,000 | ||
B. -0- | ||
C. 3,000 loss | ||
D. 3,000 gain | ||
E. None of the above |
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