Problem

Reporting Gains and Losses in the Trading Securities PortfolioUsing the data in E12-5, ass...

Reporting Gains and Losses in the Trading Securities Portfolio

Using the data in E12-5, assume that Patton management purchased the Eisenhower stock for the trading securities portfolio instead of the available-for-sale securities portfolio. Prepare any journal entries that are required by the facts presented in the case.

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