On December 31, 2010, trading securities with an original cost of $10,000 have a carrying value on the balance sheet equal to their market value of $12,000. On January 11, 2011, those trading securities are sold for $15,000. Prepare the appropriate entry to record the sale of the trading securities.

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The Answer of On December 31, 2010, trading securities with an original cost of $10,000 have a carrying value on the balance sheet equal to their market value of $12,000. On January 11, 2011, those trading securities are sold for $15,000. Prepare the appropriate entry to record the sale of the trading securities.

On December 31, 2010, Trading Securities with an Original Cost