At December 31, 2020, the trading securities for Tamarisk Company are as follows: Security Cost Fair Value A $18,880 $23,600 B 40,120 37,760 $59,000 $61,360 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entriy.) Debit Credit Account Titles and Explanation

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At December 31, 2020, the trading securities for Tamarisk Company are as follows:
Security
Cost
Fair Value
A
$18,880
$23,600
B
40,120
37,760
$59,000
$61,360
Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented
when the amount is entered. Do not indent manually. List debit entry before credit entriy.)
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:At December 31, 2020, the trading securities for Tamarisk Company are as follows: Security Cost Fair Value A $18,880 $23,600 B 40,120 37,760 $59,000 $61,360 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entriy.) Account Titles and Explanation Debit Credit
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