This Question: 1 pt 12 of 21 (0 complete) This Quiz: 25 pts possible The Allowan

Question

This Question: 1 pt 12 of 21 (0 complete) This Quiz: 25 pts possible The Allowance to Adjust Investment in Available-for-Sale Securities to Market account has a current credit balance of $902. Long-term available-for-sale investments with a cost of $19,000 have a current fair value of $20,300. The adjusting entry will require a: O A. debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $398 O B. debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $2,202. O C. credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $2,202. OD. credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $398. Click to select vour answer

Explanation / Answer

Debit to allowance to Adjust Investment in Available for Sale sucurities to Market for $2202 (900+1300) Option B is correct

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