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Xmas Inc. bought an investment for $65,000. The transaction cost was $1,700. At the end of the year the value of the investment increased
Xmas Inc. bought an investment for $65,000. The transaction cost was $1,700. At the end of the year the value of the investment increased to $70,000. Note: the investment is available for sale. Required: Show the double journal entries for the purchase and the subsequent measurement. Answer the question below the table. Use the table below for double journal entries. The number of rows in the table does not necessarily match the number of rows to be used. Meanin could be additional lines. A BIUS I
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