Marino Corporation purchased the following portfolio of trading securities during 2008 and reported the following balances at December 31, 2008. No sales occurred during 2008. All declines are considered to be temporary.
Security Cost Market Value at 12/31/08
X $ 80,000 $ 82,000
Y 140,000 132,000
Z 32,000 28,000
The only transaction in 2009 was the sale of security Z for $34,000 on December 31, 2009. The market values for the other securities at December 31, 2009 were the same as at December 31, 2008. Marino's entry to record the sale of security Z would include
A. a credit of $2,000 to Realized Gain on Sale of Trading Securities.
B. a debit of $2,000 to Realized Gain on Sale of Trading Securities.
C. a $2,000 debit to Market Adjustment-Trading Securities.
D. a $4,000 debit to Market Adjustment-Trading Securities.