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16. Kalling Company issued bonds with a face value of $207,000 on January 1, 2016, for $204,500. Kalling uses the fair value option to measure

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16. Kalling Company issued bonds with a face value of $207,000 on January 1, 2016, for $204,500. Kalling uses the fair value option to measure the bonds. At the end of 2016, the carrying value of the bonds is $201,563 and their fair value is $205,680. What is the entry to record the fair value adjustment? (Record debits first, then credits. Exclude explanations from journal entries.) Account End of Year

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