Ayayai Limited had investments in securities on its statement of financial position for the first time at the end of its fiscal year ended December 31, 2020. Ayayai reports under IFRS and its investments in securities are to be accounted for at fair value through net income. During 2020, realized losses and gains on the trading of shares and bonds resulted in investment income, which is fully taxable in the year. Ayayai also accrued unrealized gains at December 31, 2020, which are not taxable until the investment securities are sold. The portfolio of trading securities had an original cost of $314,500 and a fair value on December 31, 2020, of $318,000. The entry recorded by Ayayai on December 31, 2020 was as follows: FV-NI Investments 3,500 Investment Income or Loss 3,500 Following the year ended December 31, 2020, Ayayai continued to actively trade its securities investments until the end of its 2021 fiscal year, when it was forced to sell several of them at a loss, because of the need for cash for operations. By December 31, 2021, the portfolio of investments contained a single investment in shares, which was purchased in November 2021. Ayayai Limited had paid $42,100 for these remaining shares. At December 31, 2021, the shares' market value was $40,000. Income before income tax for Ayayai was $120,500 for the year ended December 31, 2021. There are no other permanent or reversing/timing differences in arriving at the taxable income for Ayayai Limited for the fiscal year ended December 31, 2021. The enacted tax rate for 2021 and future years is 30%. Prepare the necessary journal entry for Ayayai Limited to accrue the unrealized loss on its securities investments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation December Investment Income or Loss 31, 2021 FV-NI Investments (To record fair value adjustment) Debit 3500 Credit 3500