At December 31, 2020, the available-for-sale debt portfolio for Concord, Inc. is as follows.

Security Cost Fair Value Unrealized Gain (Loss)

A $33,250 $28,500 $(4,750)

B 23,750 26,600 2,850

C 43,700 48,450 4,750

Total $100,700 $103,550 2,850

Previous fair value adjustment balanceDr. 760

Fair value adjustmentDr. $2,090

On January 20, 2021, Concord, Inc. sold security A for $28,690. The sale proceeds are net of brokerage fees.

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(a)

Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation Debit Credit