As of December 31, 2021, the fair values of Korman Companys equity securities are as follows: Cost Fair Value 5,000 shares of Thomas Corp., Common $151,000 $160,000 10,000 shares of Gant, Common 184,000 210,000 $335,000 $370,000 Prepare the necessary adjusting general journal entry for December 31, 2021, to reflect the investments change in fair value. only second part, First part done FYI

Korman Company Purchased the following securities on June 1, 2020: 5,000 shares of Thomas Corp., Common 10,000 shares of Gant, Common Cost $151,000 184,000 $335,000 Korman does not have significant influence over either of the above equity investments. On November 1, 2020, Korman Company received a $5,000 dividend from Thomas Corp. As of December 31, 2020, the fair values of Kerman Company's equity securities are as follows: Cost Fair Value 5,000 shares of Thomas Corp., Common $ 151,000 $125,000 10,000 shares of Gant, Common 184,000 190,000 $335,000 $315.000 S.No. Date Account Debit $ Cro Rate a.) June 1,2020 Investment in Thomas Corp. 151,000 Investment in Gant 184,000 Cash 335,000 b.) November 1, 2020 Cash 5,000 Dividend Revenue 5,000 c.) December 31, 2020 20,000 Unrealized holding gain or loss Fair value adjustment-Equity Investments 20,000 (335,000 - 315,000) As of December 31, 2021, the fair values of Korman Company's equity securities are as follows: Cost Fair Value 5,000 shares of Thomas Corp., Common $ 151,000 $160,000 10,000 shares of Gant, Common 184,000 210,000 $335.000 $370.000 Prepare the necessary adjusting general journal entry for December 31, 2021, to reflect the investments change in fair value. Date Account Debit Credit