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Julia Co. purchased a trading debt security on October 4 of the current year for...

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Question

Accounting

Julia Co. purchased a trading debt security on October 4 of the current year for $50,000. The market value of the stock investment at year-end is $47,000. What value will be reported in net income for the adjustment, if any?

A. 53,000

B. -0-

C. 3,000 loss

D. 3,000 gain

E. None of the above

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