Cheyenne Company has a stock portfolio valued at $3,300. Its cost was $2,500. If the Fair Value Adjustment account has a debit balance of $320, prepare the journal entry at year-end.
Cheyenne Company has a stock portfolio valued at $3,300. Its cost was $2,500. If the Fair Value Adjustment account has a debit balance of $320, prepare the journal entry at year-end.
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