A stock investment (less than 20% ownership) is purchased for $73,500.At year end, when the market value of the stock is $65,000, the adjusting entry includes a
A) credit to Stock Investments.
B) debit to Loss on Sale of Stock Investment.
C) credit to Fair Value-Adjustment-Stock.
D) credit to Unrealized Gain or Loss-Income.
Correct Answer:
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