Business
Business, 12.02.2020 03:54, Geo777

The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following: Assets: Investment in IBM common shares$1,395,000 Less: Fair value adjustment (150,000) $1,245,000 No changes occurred during 2018 in the investment portfolio.

Required: Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was: $1,187,000 $1,287,000 $1,425,000

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