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Required information [The following information applies to the questions displayed below] Kitty Company began operations in the current year and acquired short-term debt investments in

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Required information [The following information applies to the questions displayed below] Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow. Prepare the journal entry to record the December 31 year-end fair value adjustment for these debt securities

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