Six months ago, a company purchased an investment in stock for $65,000. The investment is classified as available-for-sale securities. The current fair value of the stock is $68,500.
The company should record a:
a) Debit to Unrealized Loss-Equity for $3,500.
b) Debit to Investment Revenue for $3,500.
c) Credit to Market Adjustment - Available-for-Sale for $3,500.
d) Credit to Unrealized Gain-Equity for $3,500.
e) Credit to Investment Revenue for $3,500.
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