On December $29,2024,$ Adams Apples purchased $2,500$ shares of General Electric common stock for $$33$ per share. On December $31,$ the market value of the stock increased to $$35$ per share. On January $24,2025,$ all of the shares are sold for $$31$ 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

$1$

$$

$3$

Record any necessary fair value adjusting entry.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $3,,,],[,,,],[,,,],[.,,,],[,,,],[,,,]]$