Kitty Company began operations in the current year and acquired short-term debt investments in trading securities.

Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow.

Portfolio of Trading Securities		Cost			Fair Value
	Tesla Bonds		$	12,900		$	9,675
	Nike Bonds			21,200			22,260
	Ford Bonds			5,300			4,240

Prepare journal entry to record the December 31 year-end fair value adjustment for the debt securities.

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ekkarill92 answered 1 year ago

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