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On January 1, 2010, Valuation Allowance for Available-for-Sale Investments has a credit balance of $10,500. On December 31, 2010, the cost of the available-for-sale securities

On January 1, 2010, Valuation Allowance for Available-for-Sale Investments has a credit balance of $10,500. On December 31, 2010, the cost of the available-for-sale securities was $48,700, and the fair value was $39,200. Prepare the adjusting entry to record the unrealized gain or loss for available-for-sale investments on December 31, 2010.

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