Valuing trading securities at fair value On January 1, 20Y9, Valuation Allowance for Trading Investments had a
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Valuing trading securities at fair value On January 1, 20Y9, Valuation Allowance for Trading Investments had a zero balance. On December 31, 20Y9, the cost of the trading securities portfolio was $42,500 and the fair value was $48,400.
Journalize the December 31, 20Y9, adjusting journal entry to record the unrealized gain or loss on trading investments.
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones
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