Classification Cost FMV on 12-31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Security A
Security B
Security C
Security D
Security D
Classification
Trading
Trading
AFS
AFS
Held to Maturity
Cost
8,000.00
3,000.00
5,000.00
12,000.00
20,000.00
FMV on 12-31
7,000.00
3,500.00
6,100.00
11,500.00
19,000.00
Make journal entries to
Recore the purchase and the recording of the FMV at December 31st.
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