Wind Industries had selected unadjusted balances as shown below at year end. A search on the Internet showed fair values on December 31, 2023, of CashCo, $18; Wells, $0.70. Prepare the appropriate entry on December 31, 2023, to record the valuation adjustment.

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Non-Strategic Investments CashCo shares (21,250 shares)..... Wells shares (45,000 shares)..... Page 1105 Unadjusted Balance at Dec. 31/23 $340,000 34,000