Business, 29.02.2020 04:39, Tylobones

Prepare journal entries to record the following transactions and events, based on the assumption that the nonprofit uses a single account to record all unrealized and realized investment gains and losses. 1. On July 15, 2018, a nonprofit received a donation of Apple stock that had a fair value of $75,000 at the time of the donation. The donor told the nonprofit that the stock could be sold and used only to finance a particular research project. 2. On December 31, 2018, when the nonprofit closed its books, the stock had a fair value of $76,500. 3. On February 15, 2019, the nonprofit sold the stock for $76,000.

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Prepare journal entries to record the following transactions and events, based on the assumption tha...