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The cost of the trading securities of Hardy Company at December 31, 2017, is 62,000. At December

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The cost of the trading securities of Hardy Company at December 31, 2017, is £62,000. At December 31, 2017, the fair value of the securities is £59,000. Prepare the adjusting entry to record the securities at fair value. This is the company's first year of operations.
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