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Mumford Corporation invested $30,000 in marketable securities on December 4. On December 9, it sold some of these investments for $10,000, and on December 18, it sold more of these investments for $5,000. The securities sold on December 9 had cost the company $7,000, whereas the securities sold on December 18 had cost the company $6,000.

a. Record the purchase of marketable securities on December 4.

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Accounting Basics, Accounting

Category:- Accounting Basics
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