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Question: on january 12016 valuation allowance for trading investments had a...

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On January 1,2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portollo was $41,500, and the fair value was $46,300. Prepare the December 31, 2016, 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. Be sure to enter the yoar as a part of the date.
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