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On January 1, the Valuation Allowance for Trading Investment accounts has a zero balance. On December 31, the cost of the trading securities portfolio was

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On January 1, the Valuation Allowance for Trading Investment accounts has a zero balance. On December 31, the cost of the trading securities portfolio was $64,200, and the fair value was $67,000. Required Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments. Dec. 31

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