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Prepare journal entries, applying current US GAAP, to account for the following. (If no entry is required for a transaction/event, select No Journal Entry Required
Prepare journal entries, applying current US GAAP, to account for the following. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. On January 24,2021 , a company paid $31,000 cash to purchase Bitcoins. b. On January 26,2021 , Bitcoin's price increased to $32,000 per coin. c. On January 27, 2021, Bitcoin's price dropped to $29,500 per coin. d. On January 31, 2021, Bitcoin's price recovered to $33,650 per coin
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