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At December 31, 2020, the trading securities for Paul Company are as follows: Security Cost Fair Value AXZ $116,000 $120,000 BKY 134,000 132,000 $250,000 $252,000
At December 31, 2020, the trading securities for Paul Company are as follows:
Security Cost Fair Value
AXZ $116,000 $120,000
BKY 134,000 132,000
$250,000 $252,000
Prepare the adjusting entry at December 31, 2020, to report the securities at fair value (show the steps please)
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