Question: On January 1 , 2 0 Y 3 , Valuation Allowance for Trading Investments had a zero balance. On December 3 1 , 2 0

On January

1, 20

3,

Valuation Allowance for Trading Investments had a zero balance. On December

31, 20

3,

the cost of the trading securities portfolio was $

351, 600,

and the fair value was $

318, 300 .

Required:

Journalize the December

31, 20

3,

adjusting entry to record the unrealized gain or loss on trading investments. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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