Journ Co. purchased short-term investments in available-for-sale securities at a cost of $50,000 on November 25, 2015. At December 31, 2015, these securities had a fair value of $47,000. This is the first and only time the company has purchased such securities.

1. & 3.	Prepare the December 31, 2015, year-end adjusting entry for the securities' portfolio and the April 6, 2016, entry when Journ sells one-half of these securities for $26,000. (If no entry is required select No journal entry required in the first entry field)
	Record the fair value of the securities at December 31, 2015. Dec 31, 2015 Unrealized lossEquity 3,000 Fair value adjustmentAvailable-for-sale (ST) 3,000 Record the April 6, 2016, entry when Journ sells one-half of these securities for $26,000. Apr 06, 2016 Cash 26,000 Short-term investmentsAFS ? ?