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Journal entry worksheet On September 15, Jerome, Inc., paid $8,900 to make a long-term investment in available-for-sale secur
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Books of Jerome Inc.
Date Account Title Debit Credit
Sep.15 Investments in Available for sale securities 8900
Cash 8900
(Purchase of Notes of Topper Inc.)
30-Dec Other Comprehensive Income -(Unrealised loss-AFS) 4000
Fair value adjustment-Stock 4000
(50000-46000)
31-Dec Fair value adjustment-Stock 1000
Unrealised gain-Income 1000
(6000-5000)
(Unrealised holding period gain on Melina corporation stock hed as Trading securities)
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