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s-3. (Larning Objective 1:A.count forshort-term investments) Invernes Investments pur- chased Dorr Corp. shares as a trading security on December 16 for $85,000. 1. Suppose the

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s-3. (Larning Objective 1:A.count forshort-term investments) Invernes Investments pur- chased Dorr Corp. shares as a trading security on December 16 for $85,000. 1. Suppose the Dorr Corp. shares decreased in value to $78,000 at December 31. Make the Inverness journal entry to adjust the Investment in Trading Securities account to market value. and the unrealized gain or loss on its income statement

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