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Question(s) / Instruction(s):

On May 1, Franke Co. purchases 2,000 shares of Computech stock for $25,000. This investment is considered to be an available-for-sale investment. On July 31 (Franke\'s year-end), the stock had a market value of $28,000. Franke should record a credit to Unrealized Gain–Equity for $3,000.

a)            True

b)            False

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