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Loreal-American Corporation purchased several marketable securities during 2024 . At December 31 , 2024, the company had the investments in bonds listed below. None was
Loreal-American Corporation purchased several marketable securities during 2024 . At December 31 , 2024, the company had the investments in bonds listed below. None was held at the last reporting date, December 31 , 2023 , and all are considered securities available-for-sale. Required: 1. Prepare appropriate adjusting entry at December 31,2024 . 2. What amount would be reported in the income statement at December 31,2024 , as a result of the adjusting entry? Journal entry worksheet Record the adjusting entry for December 31, 2024. Note: Enter debits before credits. What amount would be reported in the income statement at December 31,2024 , as a result of the adjusting entry? Note: Leave no cells blank - be certain to enter 0" wherever required
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