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RR Holding Limited's investment securities are classified as trading securities, and some are classified as non-trading. The cost and fair value of each category at
RR Holding Limited's investment securities are classified as trading securities, and some are classified as non-trading. The cost and fair value of each category at December 31, 2020, were as follows. Types of Securities Cost Fair Value Unrealized Gain (Loss) Trading securities $ 48,000 $ 42,450 ($ 5,550) Non-trading securities 29,550 31,600 2,050 At December 31, 2019, the Fair Value Adjustment balances are as follows: Trading securities account had a debit balance of $1,100. Non-Trading securities account had a credit balance of $3,875. REQUIRED: Prepare the required journal entries for each group of securities for December 31, 2020
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