Trading Securities}

Osaka Corporation had a portfolio of trading securities as of December 31, 2018. The original cost of the securities purchase on January 1st of the current year was \(\$ 117,000\). The fair value of the securities at December 31,2018 is \(\$ 120,000\).

\section*{Required:}

Prepare the journal entry, if any, to adjust the value of the securities at fair market value.

\section*{Exercise