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Suppose that on December 31 of the current year, Jones Company reported long-term investments of $20,000. After careful evaluation, Jones concluded that the market value

Suppose that on December 31 of the current year, Jones Company reported long-term investments of $20,000. After careful evaluation, Jones concluded that the market value of the investments had increased to $20,500. What would be the journal entry to record the unrealized gain?

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To record the unrealized gain on the longterm investments for Jones Company you would use the following journal entry Debit Unrealized Gain on LongTer... blur-text-image

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