In its first year of operations, Blossom Corporation purchased, available-for-sale debt securities costing $65,500 as a long-term
Fantastic news! We've Found the answer you've been seeking!
Question:
In its first year of operations, Blossom Corporation purchased, available-for-sale debt securities costing $65,500 as a long-term investment. At December 31, 2022, the fair value of the securities is $60,950. Prepare the adjusting entry to record the securities at fair value.
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date: