Kanjo Companj has the following data at December 31. 2006.

I he available-for-sale securities are held as a long-term investment.
Instructions

(a) Prepare the adjusting entries to report each class of securities at lair value.

(b) Indicate the stale inent presentation of each class of securities and the related unrealized gain (loss) accounts.

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Securities Cost Trading $120,000 Available-for-sale 100,000 Fair Value: $123,000 92.000