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On December 31, Lujack Co. held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31
On December 31, Lujack Co. held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period.
Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities.
Complete this question by entering your answers in the tabs below.
Fair Value AdjustmentGeneral Journal
Computation of fair value adjustment.
Computation of Fair Value Adjustment
Available-for-Sale Securities Cost Fair Value Unrealized Amount
Nintendo Co. notes $67,800 $73,902
Atlantic bonds 27,120 25,222
Kellogg Co. notes 48,816 45,887
McDonald's Corp. bonds 91,530 86,954
Totals $235,266 $231,965
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