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Some of Sheridan 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 $$2,600,$ and the Fair Value Adjustment$-$

Available$-$for$-$Sale account had a credit balance of $$7,800.$

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

Tradingsecurities:

Unrealized Gain or Loss$-$Income

Fair Value Adjustment$-$Trading

Available$-$for$-$sale securities:

Fair Value Adjustment$-$Available$-$for$-$Sale

Unrealized Gain or Loss$-$Income

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