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Some of Powderhorn Corporation's investment securities are classified as trading securities and some are classified as available-for-sale.The cost and market value of each category at December 31, 2011, are shown on the next page.
Cost
Fair Value
Unrealized Gain (Loss)
Trading securities
$93,600
$94,900
$1,300
Available-for-sale securities
$48,800
$51,400
$2,600
At December 31, 2010, the Market Adjustment-Trading account had a debit balance of $9,200, and the Market Adjustment-Available-for-Sale account had a credit balance of $5,750. Prepare the required journal entries for each group of securities for December 31, 2011.
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