M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations:

Issuing Company	Cost
Arden Enterprises Inc.	$150,000
French Broad Industries Inc.	66,000
Pisgah Construction Inc.	104,000
	$320,000

The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows:

Issuing Company	Fair Value, Dec. 31, 20Y5
Arden Enterprises Inc.	$170,000
French Broad Industries Inc.	71,500
Pisgah Construction Inc.	96,000
	$337,500

Required:

a.	Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 20Y5.*
b.	If the fair value of the portfolio of securities were the same on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?*
c.	If the fair value of the portfolio of securities was $340,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?*
d.	If the fair value of the portfolio of securities was $330,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?*
	*Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. If no entry is required, simply skip to the next transaction.

PAGE 10 JOURNAL Score: 44/76 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Dec. 31 17,500.00 2 Unrealized Gain on Available-for-Sale Investments 17,500.00 3 Dec. 31 4 Unrealized Gain on Available-for-Sale Investments 5 Dec. 31 6