On January 1, 20Y9, Valuation Allowance for Trading Investments had a zero balance. On December...
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On January 1, 20Y9, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $66,200, and the fair value was $67,400.
Journalize the December 31, 20Y9, adjusting entry to record the unrealized gain or loss on trading investments. If an amount box does not require an entry, leave it blank.
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