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Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. On July 15,
Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. On July 15, 2021, Giles, Inc. purchases a debt security of Mavis Company for $8,000 as an available-for-sale debt security. On December 31, 2021, the investment is selling for $9.400. On January 24, 2022, Giles sells the debt security of Mavis when it is selling for 58,700 Required: Make the journal entries to record the following A. The purchase the debt security of Mavis. B. Any necessary journal entry on December 31, 2021. C. The sale of the debt security of Mavis on January 24, 2022. Your answers to this open-ended assignment should be placed in the space below this line. A Account Name Debit Date 15-Jul-21 Credit B Account Name Debit Credit Date Dec 31, 2021 Account Name Debit Credit Date Jan. 24, 2022
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