Question

Accounting Principles, 12e Principles of Accounting 12e (ACC 171/272) y & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment FULL SCREEN PRINTER VERSION BACK NEXT RCES Brief Exercise 16-6 Godfrey Corporation holds, as a long-term investment, available-for-sale securities costing $72,000. At December 31, 2017, the fair value of the securities is $66,800. Prepare the adjusting entry to record the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 0 of 6 used SAVE FOR LATER SUBMIT ANSWER