Current Attempt in Progress

Some of Cullumber Corporation's investments in debt securities are classified as trading securities and some are classified as available$-$

for$-$sale. The cost and fair value of each category at December $31,2022,$ were as follows.

At December $31,2021,$ the Fair Value Adjustment$-$Trading account had a debit balance of $$2,900,$ and the Fair Value Adjustment$-$

Available$-$for$-$Sale account had a credit balance of $$7,400.$

Prepare the required journal entries for each group of securities for December $31,2022.($List all debit entries before credit entries. Credit

account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the

account titles and enter $0$ for the amounts.$)$

No$.$ Account Titles and Explanation

Debit

Credit

Trading securities:

Available$-$for$-$sale securities: