Cost and fair value data for the trading debt securities of Crane Company at December 31, 2022, are $61,500 and $58,350 respectively. Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and e for the amountr
Cost and fair value data for the trading debt securities of Crane Company at December 31, 2022, are $61,500 and $58,350 respectively. Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and e for the amountr
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Cost and fair value data for the trading debt securities of Crane Company at December 31, 2022, are $61,500 and $58,350
respectively.
Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter
O for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
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