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On January 1, 2012, Valuation Allowance for Trading Investment has a zero balance . On December 31, 2012, the cost of trading securities portfolio was $52,400, and the fair value was $53,000.

Required:

Prepare the December 31, 2012, adjusting journal entry to record the unrealized gain or loss on trading investments.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M939137

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