Business, 14.03.2020 05:57 NayeliNoel
Trading securities were sold on January 3, 2018 for $65,000. Those securities were purchased for $52,000 on November 21 2017, and they had a fair value on December 31, 2017 of $57,000. The entry to record the sale would include a . a. debit to Investment in Trading Securities of $5,000 b. credit to Gain on Sale of Trading Securities of $8,000. c. credit to Unrealized Holding Gain/Loss-Trading Securities of $8,000 d. debit to Unrealized Holding Gain/Loss-Trading Securities of $5,000.
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Trading securities were sold on January 3, 2018 for $65,000. Those securities were purchased for $52...
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