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On November 15, 2020, Evergreen Inc. purchases a trading investment for $150,000. Evergreen also enters into a put option to sell the shares for $150,000.
On November 15, 2020, Evergreen Inc. purchases a trading investment for $150,000.
Evergreen also enters into a put option to sell the shares for $150,000. At December 31, 2020,
the investment is valued at $155,000.
Required
a. Record any adjusting entries required at December 31, 2020 in connection with the
above transactions.
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