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E17.8 (LO 2) (Equity Securities Entries and Reporting) Satchel Corporation purchases...

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E17.8 (LO 2) (Equity Securities Entries and Reporting) Satchel Corporation purchases equity securities costing $73,000. At December 31, the fair value of the portfolio is $65,000 Instructions Prepare the adjusting entry to report the securities properly, assuming that the investments purchased represent less than a 5% interest in the other companies. Indicate the statement presentation of the ac- counts in your entry

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