Gard Company completes the following transactions related to its short-term debt investments. Required Prepare journal entries for
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Gard Company completes the following transactions related to its short-term debt investments.
Required
Prepare journal entries for the transactions.
Prepare a year-end adjusting journal entry as of December 31 if the fair values of the debt securities held by Gard are $9,600 for FedEx and $22,000 for Ajay. (This year is the first year Gard Company acquired short-term debt investments.)
Computation of unrealized gain or loss, along with the adjusting entry, follows.
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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