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On March 10, 2023, Dearden, Incorporated, purchased 11,000 shares (2 percent) of Jaffa stock for $48 per share. Management intends to hold the securities long

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed On March 10, 2023, Dearden, Incorporated, purchased 11,000 shares (2 percent) of Jaffa stock for $48 per share. Management intends to hold the securities long term. Dearden's year ends on December 31. The following information pertains to the price per share of Jaffa stock: Dearden sold all of the Jaffa stock on September 12, 2026, at a price of $43 per share. Prepare any journal entries that are required by the facts presented in this case. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 7 Record the purchase of investments on March 10, 2023. Note: Enter debits before credits. Journal entry worksheet 7 Record the change in the fair value of the investments on December 31, 2023. Note: Enter debits before credits. Journal entry worksheet 1 7 Recognize the fair value of investments on December 31, 2024. Note: Enter debits before credits. Journal entry worksheet Record the change in the fair value of the investments on December 31, 2025. Note: Enter debits before credits. Journal entry worksheet Record the change in the fair value of the investments on September 12, 2026. Note: Enter debits before credits. Journal entry worksheet Reclassify any gain or loss on the sale of the investments on September 12, 2026. Note: Enter debits before credits. Journal entry worksheet Record the cash received from the sale of the investment on September 12, 2026. Note: Enter debits before credits

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