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On January 1, the valuation allowance for available-for-sale investments account had a zero balance. On December 31, the cost of the available-for-sale securities was $48,700,
On January 1, the valuation allowance for available-for-sale investments account had a zero balance. On December 31, the cost of the available-for-sale securities was $48,700, and the fair value was $39,200. Journalize the adjusting entry for the unrealized gain or loss for available-for-sale investments on December 31. If an amount box does not require an entry, leave it blank.
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