Prepare the journal entries to record the transfer

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Reference no: EM13306954

On February 1,2014, Razorback Corporation decides to transfer its available-for-sale securities to the trading category. These securities had been purchased for $9,400 early in 2013 and had a fair value of $11,700 on December 31, 2013. On February 1, 2014, the securities have a fair value of $12,500. Prepare the journal entries to record the transfer.

Reference no: EM13306954

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