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.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31],[,,,],[,,,],[?,,,],[,,,],[,,,]]$