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Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this

Fair Value Journal Entries, Trading Investments Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 2013, was as follows: Name Dolphins Inc. Total Cost Total Fair Value Number of Shares 1,350 $18,090 $17,000 Marino Company 850 27,880 25,930 Namath Company 300 Total 8,700 $54,670 8,870 $51,800 Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3. 20Y3 Dec. 31

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