Exercise A2-21 Adjusting the Allowance to Adjust Trading Securities to Market Caesar Corporation has the following information for its portfolio of trading securities at the end of the past 4 years: Date Portfolio Cost Portfolio Market Value 12/31/2017 $162,300 $153,800 12/31/2018 109,600 106,200 12/31/2019 148,900 151,300 12/31/2020 139,000 138,700 Required: 1. Prepare the journal entries, if necessary, to adjust the allowance account at the end of 2018, 2019, and 2020. 2018 Dec. 31 Allowance to Adjust Trading Securities to Market Unrealized Gain (Loss) on Trading Securities (Record equity securities at fair value) 2019 Dec. 31 Allowance to Adjust Trading Securities to Market Unrealized Gain (Loss) on Trading Securities (Record equity securities at fair value) 2020 Dec. 31 Unrealized Gain (Loss) on Trading Securities Allowance to Adjust Trading Securities to Market (Record equity securities at fair value) Feedback Check My Work Partially correct . Concentual Connection: What is the income statement effect of the 2020 entry? If there is no effect, please enter neck My Work Previous Next 2. Conceptual Connection: What is the income statement effect of the 2020 entry? If there is no effect, please enter "O" for the amount and select "no effect" from the dropdown. The 2020 income statement effect is a $ loss Feedback Check My Work Partially correct 3. Conceptual Connection: How would your answer to Requirement 2 change if this was an available-for-sale portfolio? If there is no effect, please enter "O" for the amount and select "no effect" from the dropdown. The 2020 income statement effect is a $ no effect Feedback Check My Work Partially correct Feedback Check My Work Partially correct