The accounting records of Jamaican Importers Inc. at January 1,

The accounting records of Jamaican Importers Inc. at January 1, 2011, included the following:


No changes occurred during 2011 in the investment portfolio.


Required:

Prepare appropriate adjusting entry(s) at December 31, 2011, assuming the fair value of the IBM common shares was:

1. $1,175,000

2. $1,275,000

3. $1,375,000


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