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On January 1, Apple purchased $300,000 of AFS securities. The value of the securities decreased to $280,000 by December 31, and then permanently declined by

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On January 1, Apple purchased $300,000 of AFS securities. The value of the securities decreased to $280,000 by December 31, and then permanently declined by $110,000 on March 15. Record the following journal entries: January 1 (2 Marks) December 31 (3 Marks) March 15

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