On December $31,20$X$1,$ Franco Company held a portfolio of trading equity securities with a cost of $$198,200$ and a fair value of $$200,000.$ In $202,$ Franco collected dividend revenue of $$8,000,$ purchased trading equity securities with a cost of $$421,000,$ and sold trading equity securities with a cost of $$470,000$ for $$512,000.$ The fair value of the securities portfolio on December $31,202$ is $$148,500.$ What journal entry is needed at December $31,202$ to adjust the securities to fair value?

Debit Unrealized Holding Gain or Loss $-$ Income for $$2,500$; Credit Fair Value Adjustment, $$2,500.$

Debit Fair Value Adjustment, $$1,100$; Credit Unrealized Holding Gain or Loss $-$ Income, $$1,100.$

Debit to Unrealized Holding Gain or Loss $-$ Income, $$700$; Credit to Portfolio of Equity Trading Securities, $$700.$

Debit Unrealized Holding Gain or Loss $-$ Equity, $$700$; Credit Fair Value Adjustment, $$700.$