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Posted: September 14th, 2024

Touro NY ACCOUNTING GBA 210 XYZ Company uses the fair value method to account for the following transactions:

Question 1XYZ Company uses the fair value method to account for the following transactions:1/6/15. Purchase 300 shares of equity securities at $15 per share.4/20/15 Purchased another 600 shares of equity securities at $20 each.12/1/15 Collected cash dividends of $2 per share on all securities own.Required Prepare all general journal entries for the above transactions. Also, assume that the all equity securitiesowned were trading at $21 per share at December 31, 2015.

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