Multiple Choice
The Allowance to Adjust Investment in Available-for-Sale Securities to Market account has a current credit balance of $842. Long-term available-for-sale investments with a cost of $16,000 have a current fair value of $18,400. The adjusting entry will require a:
A) credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1558.
B) credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $3242.
C) debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1558.
D) debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $3242.
Correct Answer:
Verified
Correct Answer:
Verified
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