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Skyline, Inc., purchased a portfolio of trading securities during the current fiscal year. The cost...

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Accounting

image Skyline, Inc., purchased a portfolio of trading securities during the current fiscal year. The cost and fair value of this portfolio on December 31 were as follows: -Journalize the adjusting entry for the fair value of the trading securities on December 31. -Where will the information from the journal entry be reported on the financial statements? -If these were available-for-sale securities instead, what would change

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