On January 1, 2012, Valuation Allowance for Trading Investments has 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

Question: On January 1, 2012, Valuation Allowance for Trading Investments has a zero balance. On December 31, 2012, the cost of the trading securities portfolio was

On January 1, 2012, Valuation Allowance for Trading Investments has a zero balance. On December 31, 2012, the cost of the trading securities 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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