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Question 38 (5 points) On July 31, Potter Co. purchased 2,000 shares of GigaTech stock for $16,000. GigaTech has 100,000 shares currently outstanding. This is

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Question 38 (5 points) On July 31, Potter Co. purchased 2,000 shares of GigaTech stock for $16,000. GigaTech has 100,000 shares currently outstanding. This is the company's first and only stock investment. On October 31, which is Potter's year-end, the stock had a fair value of $20,000. Potter should record a: Credit to Unrealized Gain-Income for $4,000. Credit to Fair Value Adjustment-Stock for $4,000. Credit to Investment Revenue for $4,000. Debit to Unrealized Loss-Income for $4,000. Debit to Unrealized Gain-Equity for $4,000

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