The portfolio of trading securities had a cost of $200,032 and a fair value of...
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Accounting
The portfolio of trading securities had a cost of $200,032 and a fair value of $188,000, requiring a credit balance in Valuation Allowance for Trading Investments of $12,032 ($200,032 - $188,000). Thus, the debit balance from December 31, 2016, is to be adjusted to the new balance.
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