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Exercise 15-2(Algo) Accounting for debt investments classified as trading LO P1 Prepare the...

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Accounting

Exercise 15-2(Algo) Accounting for debt investments classified as trading LO P1
Prepare the December 27 entry for the purchase of debt investments.
& 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $28,500) for $32,250 cash.
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Req 1
Req 2 and 3
Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $28,500) for $32,250 cash.
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