Pearl Corporation purchases equity securities costing $$58,600.$ At December $31,$ the fair value of the portfolio is $$51,800.$

Prepare the adjusting entry to report the securities properly, assuming that the investments purchased represent less than a $5\%$

interest in the other companies. $($List debit entry before credit entry. Credit account titles are automatically indented when amount is entered.

Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation