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Question(s) / Instruction(s):

On december 31, 2011, Rollo company held the following short term investments in its portfolio of avaliable-for-sale securities. Rollo had no short-term investments in its prior accounting periods. Prepare the December 31, 2011, adjusting entry to report these investments at fair value. CostFair Value Vicks Corporation bonds payable ...... $79,600$90,600 Pace Corporation notes payable........ 60,60052,900 Lake Lugano Company common stock...85,50082,100

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