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Valuing Trading Securities at Fair Value On January 1, 2019, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2019, the cost

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Valuing Trading Securities at Fair Value On January 1, 2019, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2019, the cost of the trading securities portfolio was $58,400, and the fair value was $59,600. Journalize the December 31, 2019, adjusting journal entry to record the unrealized gain or loss on trading investments. 2049 Dec. 31

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