On December 29, 2021, Adams Apples purchased 1,000 shares of General Electric common stock for $19 per share. On December 31, the market value of the stock increased to $20 per share. On January 24, 2022, all of the shares are sold for $16 per share. Record the initial investment, any fair value adjustment at the end of 2021, and the sale in 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

On December 29, 2021, Adams Apples purchased 1,000 shares of General Electric common stock for $19 per share. On December 31, the market value of the stock increased to $20 per share. On January 24, 2022, all of the shares are sold for $16 per share. Record the initial investment, any fair value adjustment at the end of 2021, and the sale in 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale of the investment. Note: Enter debits before credits. Date General Journal Debit Credit January 24, 2022 Cash Investments 20,000 Record entry Clear entry View general journal