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On January 1 Valuation Allowance for Trading Investments had a zero balance On December 31 the cost of the trading securities portfolio was 260000 and the fair value was 214000 Prepare the

On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $260,000, and the fair value was $214,000. Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments.

May 07 2021 View more View Less

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