Question: INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY 0.5 points Save Answer At December 31, 2016, Isa Co. has a debt investment portfolio valued at $40,000. Its

INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY 0.5 points Save Answer At

INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY

0.5 points Save Answer At December 31, 2016, Isa Co. has a debt investment portfolio valued at $40,000. Its cost was $33,000. If the Fair Value Adjustment account has a debit balance of $2,000, which of the following journal entries is required at December 31, 2016? 7,000 A. Fair Value Adjustment 7.000 Unrealized Holding Gain or Loss-Income B. Fair Value Adjustment 5.000 Unrealized Holding Gain or Loss-Income C. Unrealized Holding Gain or Loss-Income 7.000 Fair Value Adjustment D. Unrealized Holding Gain or Loss-Income 5.000 Fair Value Adjustment 5.000 7.000 5.000

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