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Olympic Corporation purchased a debt security for $500,000 on July 1, 2024 and properly classified it as a trading security. As of the last day

Olympic Corporation purchased a debt security for $500,000 on July 1, 2024 and properly classified it as a trading security. As of the last day of 2024, the fair value of the security was $494,000. The proper journal entry on this date includes

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