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15-4 A231 PE 15-44 Valuing trading securities at fair value OBJ.4 On January 1, Valuation Allowance for Trading Investments had a zero balance. On De-

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15-4 A231 PE 15-44 Valuing trading securities at fair value OBJ.4 On January 1, Valuation Allowance for Trading Investments had a zero balance. On De- cember 31, the cost of the trading securities portfolio was $260,000, and the fair value was $214,000. Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments

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