Jones Company has notes receivable that have a fair value of $950,000 and a carrying amount of $1,250,000. Jones decides on December 31, 2017, to use the fair value option for these recently-acquired receivables. Which of the following entries will be made on December 31, 2017 to record the unrealized holding gain/loss? A. Unrealized Holding Gain or Loss - Equity 300,000
Notes Receivable 300,000
B. Unrealized Holding Gain or Loss-Income. 300,000
Notes Receivable 300,000
C. Notes Receivable 300,000 300,000
Unrealized Holding Gain or Loss-Income 300,000
D. Notes Receivable 300,000 300,000
Unrealized Holding Gain or Loss Equity 300,000
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