At December 31, 2017, the available-for-sale securities for Storrer, Inc. are as follows. They have...
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At December 31, 2017, the available-for-sale securities for Storrer, Inc. are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. SecurityCost Fair Value $17,000 $15,700 13,800 12,600 23,300 $52,900 $48,800 Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Unrealized Loss-Income 4,100 Fair Value Adjustment- 4,100
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