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The cost of the available-for-sale securities was 62400 and

Valuing available-for-sale securities at fair value

On January 1, 2012, Valuation Allowance for Available-for-Sale Securities had a zero balance. On December 31, 2012, the cost of the available-for-sale securities was $62,400, and the fair value was $56,900. Prepare the adjusting entry to record the unrealized gain or loss for available-for-sale securities on December 31, 2012.

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Accounting Basics: The cost of the available-for-sale securities was 62400 and

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