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

Valuing Trading Securities at Fair Value On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $54,800, and the fair value was $56,400. Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments. Dec. 31

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