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Q:Question:On December 21,2020 , Splish Company provided you with the following information regarding its equity investments. During 2021. Colorado Co. stock was sold for (

Q:Question:On December 21,2020 , Splish Company provided you with the following information regarding its equity investments. During 2021. Colorado Co. stock was sold for $ \$ 9,410 $. The fair value of the stock on December 31,2021 , was Clemson Corp. stock$ \$ 19,410 $; Buffaloes Co, stock $ -\$ 20,700 $. None of the equity investments result in significant influence. (a) Prepare the adjusting journal entry needed on December 31, 2020. (b)A:Answer:See a step by step answer

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