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  3. on december 29,2024, adams apples purchased 1,200

On December 29,2024, Adams Apples purchased 1,200 shares of General Electric common stock for $20...

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Accounting

On December 29,2024, Adams Apples purchased 1,200 shares of General Electric common stock for $20 per
share. On December 31, the market value of the stock increased to $22 per share. On January 24,2025, all of
the shares are sold for $18 per share.
Record the initial investment, any fair value adjustment at the end of 2024, and the sale in 2025.
Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the
first account field.
Journal entry worksheet
Record the sale of the investment.
Note: Enter debits before credits.
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