On December 31, 2015, Reggit

On December 31, 2015, Reggit Company held the following short-term investments in its portfolio of available-for-sale securities. Reggit had no short-term investments in its prior accounting periods. Prepare the December 31, 2015, adjusting entry to report these investments at fair value. (If no entry is required select No journal entry required in the first entry field.) Fair Value Adjustment Computation - Available for Sale Portfolio Fair Unrealized Cost Value Amount Verrizano Corporation bonds $60,800 $56,000 payable Preble Corporation notes payable 50,000 41,700 Lucerne Company common stock 82,500 79,300 $ $ Total 193,300 177,000 View transaction list Journal entry worksheet Record the year-end adjusting entry for the securities portfolio. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry View general journal Clear entry