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Prepare entries for the following transactions involving available-for-sale securities. December 11 Purchased short-term investments in available-for-sale debt securities at a cost of $52,400. December 31
Prepare entries for the following transactions involving available-for-sale securities.
| December 11 | Purchased short-term investments in available-for-sale debt securities at a cost of $52,400. |
|---|---|
| December 31 | The securities had a fair value of $51,400 at year-end. An adjusting entry for fair value of the available-for-sale securities' portfolio is required. |
| February 10 | Sold a portion of its available-for-sale securities (costing $5,240) for $6,400 cash. |
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Accounting An Introduction
Authors: Eddie McLaney, Peter Atrill
3rd Edition
0273688227, 978-0273688228
