On July 31, Beatrice Co. purchased 2,000 shares of SimmTech shares for $16,000. The investment is classified as available-for-sale securities. On October 31, which is Beatrice's year-end, the shares had a fair value of $20,000. Beatrice should record a:
A) Credit to Gain on Investment for $4,000.
B) Credit to Share Capital-Ordinary for $4,000.
C) Credit to Investment Revenue for $4,000.
D) Debit to Investment Revenue for $4,000.
E) Debit to Gain on Investment for $4,000.
Correct Answer:
Verified
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