Business, 19.02.2020 01:02 deshown

During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a $70,000 cost. At its December 31 year-end, these securities had a fair value of $58,000. This is the first and only time the company purchased such securities. Prepare the necessary year-end adjusting entry related to these securities.

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During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a...