Kitty Company began operations in the current year and acquired short$-$term debt investments in trading securities$.$ The year$-$end cost and fair values for its portfolio of these debt investments follow.

Trading Securities Cost Fair Value

Tesla Bonds $ $12,900$ $ $9,675$

Nike Bonds $21,20022,260$

Ford Bonds $5,3004,240$Journal entry worksheet

$1$

Record the year$-$end adjustment to fair value, if any.

Note: Enter debits before credits.