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b. On January 12, 2019, B purchased $500,000 of stock and classified it as available for sale. On December 31, 2019, the stock was selling

b. On January 12, 2019, B purchased $500,000 of stock and classified it as available for sale. On December 31, 2019, the stock was selling for $498,724. On June 16, 2020 when the stock was selling for $568,417, B reclassified the stock as trading securities. Record the journal entry for June 16, 2020.

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