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2 years ago

15

The trading securities portfolio of Jerome, Inc., had a total cost of $3,000 and

1 answer:

GaryK [48]2 years ago

8 0

Answer and Explanation:

The journal entry is shown below:

Unrealized Loss - Income ($3,000 - $2,800) $200

To Fair value adjustment - trading $200

(being the adjustment to fair value for trading securities is recorded)

Here the unrealized loss would be debited and the fair value adjustment would be credited

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