Korman Company has the following securities in its portfolio of equity securities on December $31,2025$:

Cost Fair Value

$5,000$ shares of Thomas Corp., Common $$151,000$ $$139,000$

$10,000$ shares of Gant Inc., Common $184,000190,000$

$$335,000$ $$329,000$

All of the securities had been purchased in $2025.$ In $2026,$ Korman completed the following securities transactions:

March $1$ Sold $5,000$ shares of Thomas Corp., Common @ $$32$ less fees of $$1,500.$

April $1$ Bought $600$ shares of Werth Stores, Common @ $$45$ plus fees of $$550.$

The Korman Company portfolio of equity securities appeared as follows on December $31,2026$:

Cost Fair Value

$10,000$ shares of Gant, Common $$184,000$ $$195,500$

$600$ shares of Werth Stores, Common $27,55025,500$

$$211,550$ $$221,000$

Instructions

Prepare the following general journal entries for Korman Company:

$($a$)2025$ adjusting entry, assuming a $$0$ balance in the Fair Value Adjustment account at $1/1/25$

$($b$)$ Sale of the Thomas Corp. stock

$($c$)$ Purchase of the Werth Stores' stock

$($d$)2026$ adjusting entry