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Business, 30.11.2019 01:31 chilanka

On january 22, 2014, gorman corporation sold security c for $32,000. assuming that gorman made the proper adjustments when closing its books on december 31, 2013, the journal entry for the 2014 sale would include a
a) credit to fair value adjustment–trading for $32,000.
b) credit to unrealized gain–income for $1,000.
c) debit to unrealized loss–income for $5,000.
d) debit to loss on sale of stock investments for $5,000.

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On january 22, 2014, gorman corporation sold security c for $32,000. assuming that gorman made the p...
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