On May 15, 2014, Grey Corp.purchased 1,000 common shares of Regal Bank for $25,000, as a Fair Value through Other Comprehensive Income (FV-OCI) equity investment.At December 31, 2014, the fair value of these shares was $27,200.The required adjusting entry to reflect this fact is
A) debit Fair Value-OCI Investment, Cr Holding Gain on Investment (OCI) $27,200.
B) debit Holding Gain on Investment (OCI) , credit Fair Value-OCI Investment $27,200.
C) debit Fair Value-OCI Investment, Cr Holding Gain on Investment (OCI) $2,200.
D) debit Holding Loss on Investment (OCI) , credit Fair Value-OCI Investment $2,200.
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