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Business, 12.03.2021 19:30 aldaysein

The concerns were justified when the FDA banned the drug. $100,000 of that decline in value already had been included in OCI as a temporary unrealized loss in a prior period. LED views $360,000 of the $650,000 loss as related to credit losses, and the other $290,000 as noncredit losses. LED does not plan to sell the investment and does not think it is more likely than not that it will have to sell the investment before fair value recovers. What journal entries should LED record to account for the decline in market value in the current period

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The concerns were justified when the FDA banned the drug. $100,000 of that decline in value already...
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