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Question(s) / Instruction(s):

Six months ago, a company purchased an investment in stock for $61,000. This investment is considered available-for-sale. The current market value of the stock is $74,000. The company should record a:

Credit to Market Adjustment – Available-for-Sale for $13,000.

a)            Debit to Investment Revenue for $13,000.

b)            Credit to Unrealized Gain–Equity for $13,000.

c)            Credit to Investment Revenue for $13,000.

d)            Debit to Unrealized Loss–Equity for $13,000.

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