(Answered) On february 1 year 2 the razorback corporation decides to

Accounting

On February 1, Year 2, the Razorback Corporation decides to transfer its available for sale securities to the trading category. These securities had been purchased for $9,400 early in Year 1 and had a fair value of $11,700 on December 31, Year 1. On February 1, Year 2, the securities have a fair value of $12,500.

Prepare the journal entries to record the transfer.

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