Trading securities were purchased on April 1 for $900. On December 31, the market value of those securities is $700. Which of the following is part of the adjusting entry necessary on December 31?
A) Debit Unrealized Loss on Trading Securities for $700
B) Debit Realized Loss on Trading Securities for $200
C) Credit Trading Securities for $200
D) Credit Unrealized Loss on Trading Securities for $200
Correct Answer:
Verified
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