On December $29,2024,$ Adams Apples purchased $1,200$ shares of General Electric common stock for $$20$ per

share. On December $31,$ the market value of the stock increased to $$22$ per share. On January $24,2025,$ all of

the shares are sold for $$18$ per share.

Record the initial investment, any fair value adjustment at the end of $2024,$ and the sale in $2025.$

Note: If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the

first account field.

Journal entry worksheet

Record the sale of the investment.

Note: Enter debits before credits.