Cost and fair value data for the trading securities of Clifford Company at December 31, 2010, are $100,000 and $74,000, respectively. Which of the following correctly presents the adjusting journal entry to record the securities at fair value?
a. Unrealized Loss-Income........... 26,000
Tradig Securities............. 26,000
b. unrealized gain-income........... 26,000
Tradig Securities............. 26,000
c. Unrealized Loss-Income........... 26,000
market adjustment-trading..... 26,000
d. market adjustment-trading........ 26,000
Unrealized Gain-Income........ 26,000