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How much was the gain or loss for the sale of the investment

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Problem 1: PM Distributors began Year 2 with Equity Investments of $ 8,500 ?(which consisted of a single? investment) as well as a debit balance of $ 700 in the Fair Value Adjustment minus Equity Investments account. PM does not have significant influence over the? investee, and the investment has a readily determinable fair value. This trading security was sold for $ 9,200 during Year 2. How much was the gain or loss for the sale of this investments and how is it? recorded?

Reference no: EM132791802

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