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Question(s) / Instruction(s):

Six months ago, a company purchased an investment in stock for $70,000. This investment is considered available-for-sale. The current market value of the stock is $73,500. The company should record a:

a)            credit to Unrealized Gain–Equity for $3,500.

b)            debit to Investment Revenue for $3,500.

c)            credit to Investment Revenue for $3,500.

d)            debit to Unrealized Loss–Equity for $3,500.

e)            credit to Market Adjustment – Available-for-Sale for $3,500.

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