Question: JOURNAL Score: 21/25 ACCOUNTING EQUATION DATE DESCRIPTION CREDIT POST. REF DEBIT ASSETS LIABILITIES EQUITY Adjusting Entries Dec. 31 Vaation Allowance for Trading Investments 31,100.00 Unrealized

JOURNAL Score: 21/25 ACCOUNTING EQUATION DATE DESCRIPTION CREDIT POST. REF DEBIT ASSETS LIABILITIES EQUITY Adjusting Entries Dec. 31 Vaation Allowance for Trading Investments

JOURNAL Score: 21/25 ACCOUNTING EQUATION DATE DESCRIPTION CREDIT POST. REF DEBIT ASSETS LIABILITIES EQUITY Adjusting Entries Dec. 31 Vaation Allowance for Trading Investments 31,100.00 Unrealized Loss on Trading Investments 31,100.00 On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $379,100, and the fair value was $348,000 Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments. Refer to the Chart of Accounts for exact wording of account titles

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