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Q&M Apparel purchased debt securities on January 1 for $ 1 5 0 , 0 0 0 and classified the investments as trading securities .

Q&M Apparel purchased debt securities on January 1 for $150,000 and classified the investments as trading securities. On December 31, the debt securities are valued at $148,000.
Record the year-end entry to adjust these securities to their fair value.
Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.
Journal entry worksheet
1
Record the adjusting trading securities to fair value
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[December 31],[,,,],[,,,],[,e,,],[,,,],[,,,]]
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