On December 31, Lujack Co. 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.

Fair Value AdjustmentGeneral Journal

Computation of fair value adjustment.

Computation of Fair Value Adjustment

Available-for-Sale Securities Cost Fair Value Unrealized Amount

Nintendo Co. notes $67,800 $73,902

Atlantic bonds 27,120 25,222

Kellogg Co. notes 48,816 45,887

McDonald's Corp. bonds 91,530 86,954

Totals $235,266 $231,965