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On jan 1 2010 valuation allowance for trading investment

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Reference no: EM13579577

On Jan 1 2010, Valuation Allowance for Trading Investment has a credit balance of $8,700. On Dec 31,2010 the cost of trading securities portfolio was $52,400 , and the fair value was $53,000. Required: Prepare the December 31, 2010 adjusting journal entry to record the unrealized gain or loss on trading investments.

Reference no: EM13579577

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