exercise 15-9 Fair value adjustment to available-for-sale securities LO P3

Prescrip Co. began operations in 2016. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare the December 31, 2017, adjusting entry to reflect any necessary fair value adjustment for these investments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Portfolio of Available-for-Sale Securities	Cost			Fair Value
December 31, 2016	$	66,974		$	60,946
December 31, 2017		72,611			76,968
Record the December 31, 2017 year-end adjusting entry for the securities portfolio, if any.