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Midwest Bank invests in equity securities. At the beginning of December 2019, the bank held no equity securities. During December of 2019, it entered
Midwest Bank invests in equity securities. At the beginning of December 2019, the bank held no equity securities. During December of 2019, it entered into the following transactions: Dec. 10 Purchased 400 shares of Carroll Company common stock for $75 per share. 21 Purchased 700 shares of Dynamo Company common stock for $30 per share. At the end of December, the Carroll Company common stock had a quoted market price of $79 per share, and the Dynamo Company common stock had a quoted market price of $33 per share. Question What is the balance in the Unrealized Holding Gains/Losses account on December 31, 2019? Debit balance of $3,700 Credit balance of $3,700 Debit balance of $55,000 $0, neither a Debit, nor a Credit balance.
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