. Exercise 12-17 Equity investments; fair value through net income [L012-4] The accounting records of Jamalcan Importers, Inc., at January 1,2018, included the following: Assets: 4901 Investment in IBM common shares Less: Fair value adjustment $2,195,08e (230, ee0) $1,965,88e ed ok nt No changes occurred during 2018 in the investment portfolio. Int Required ences Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the 1BM common shares was: 1. $1,415,000 2. $1,989,000 3. $2.205,000 (If no entry is required for e transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the fair value adjustment assuming the fair value of the IBM common shares was $1,415,000. Note: Enter debits before credits. Transactions General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the fair value adjustment assuming the fair value of the IBM common shares was $1,989,000 Note: Enter debits before credits Transactions Debit Credit General Journal 2 Record entry Clear entry View general journal Journal entry worksheet 2 Record the fair value adjustment assuming the fair value of the IBM common shares was $2,205,000. Note: Enter debits before credits. Transactions General Journal Debit Credit Record entry Clear entry View general journal