True/False
On May 1, Jorge Co. purchases 2,000 shares of Radiotech stock for $25,000. This investment is considered to be an available-for-sale investment. This is the company's first and only investment in available-for-sale securities. On July 31 (Jorge's year-end), the stock had a market value of
$28,000. Jorge should record a credit to Unrealized Gain-Equity for $3,000.
Correct Answer:
Verified
Correct Answer:
Verified
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