On December $31,$ Lujack Company held the following short$-$term available$-$for$-$sale securities$.$ Lujack had no short$-$term investments prior to the current period.

Prepare the December $31$ year$-$end adjusting entry to record the fair value adjustment for these debt securities$.$

Complete this question by entering your answers in the tabs below.

General

Journal

Computation of fair value adjustment.

$\backslash$table$[[$Available$-$for$-$Sale Securities,Computation of Fair Value Adjustment,$\backslash$table$[[$Unrealized$],[$Amount$]],$Gain or Loss?$],[,,$Cost,Fair,ir Value$],[$Nintendo Company notes,,$$,52,200,$$$,56,898,,0],[$Atlantic bonds,,,$20,880,,19,418,,],[$Kellogg Company notes,,,$37,584,,35,329,,],[$McDonald$\text{'}$s Corporation bonds,,,$70,470,$re$,\backslash$table$[[66,947]],,],[$Totals$,,$$$,181,134,$$$,178,592,,$Unrealized loss$]]$

Fair Valuo Adjustment

Prepare the December $31$ year$-$end adjusting entry to record the fair value adjustment for these debt securities$.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

Record the year$-$end adjustment to fair value, if any.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December$],[31]],,,],[,,,],[,,,],[,,($i$),],[,,,],[,,,]]$