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Linder Corporation invested $70,000 cash in marketable securities on September 1. On September 7 the company sold $10,000 of these investments for $15.000. On
Linder Corporation invested $70,000 cash in marketable securities on September 1. On September 7 the company sold $10,000 of these investments for $15.000. On September 28 Linder sold $6.000 of the securities for $4,000. a. Record the purchase of marketable securities on September 1 b. Record the sale of marketable securities on September 7. C. Record the additional sale of marketable securities on September 28. d. Record the necessary month end fair value adjustment on September 30. The market price for Linder Corporation's remaining unsold securities was $58,000.
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ANSWER A SEPTEMBER 1 MARKETABLE SECURITIES DR 70000 CASH CR 70000 B SEPTEMBER 7 CA...
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
