Multiple Choice
The fair value of a long-term available-for-sale security has decreased from the last carrying value. The journal entry to record this decrease will include a:
A) debit to the Allowance to Adjust Investment in Available-for-Sale Securities to Market.
B) credit to the Allowance to Adjust Investment in Available-for-Sale Securities to Market.
C) credit to the Unrealized Loss on Investment in Available-for-Sale Securities.
D) debit to the Unrealized Gain on Investment in Available-for-Sale Securities.
Correct Answer:
Verified
Correct Answer:
Verified
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