Question: Required information Use the following information for the Quick Study below. (Static) [The following information applies to the questions displayed below.] Kitty Company began operations

Required information Use the following information for the Quick Study below. (Static) [The following information applies to the questions displayed below.] Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow. QS 15-4 (Static) Fair value adjustment to a portfolio of trading securities LO P1 Prepare the journal entry to record the December 31 year-end fair value adjustment for these debt securities

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