On January 1, 2012, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2012,
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On January 1, 2012, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2012, the cost of the trading securities portfolio was $33,200, and the fair value was $39,500. Prepare the December 31, 2012, adjusting journal entry to record the unrealized gain or loss on trading investments.
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To record the unrealized gain or loss on trading investments as of December 31 2012 yo...View the full answer
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