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Hillsborough Corporation has an available-for-sale investment in the bonds of Schuyler with a carrying (and fair) value of $88,020. Hillsborough found that due to poor economic prospects for Schuyler, the bonds have decreased in value to $57,020. This is determined that this loss in value is other-than temporary. Make the journal entry, if any, to record the decrease in value.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M915913

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