At December 31, 2024, Atlanta Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, which of the following journal entries is required at December 31, 2024?

a.

Fair Value Adjustment 28,000 Unrealized Holding Gain or Loss-Income 28,000

b.

Fair Value Adjustment 20,000 Unrealized Holding Gain or Loss-Income 20,000

c.

Unrealized Holding Gain or Loss-Income 28,000 Fair Value Adjustment 28,000

d.

Unrealized Holding Gain or Loss-Income 20,000 Fair Value Adjustment 20,000