QS 15-5 Multiyear fair value adjustments to trading securities LO P1 Kitty Company began operations in 2016 and maintains short-term investments in trading securities. The year-end cost and fair values for its portfolio of these investments follow. Portfolio of Trading Securities December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 Cost $53 50 68 72 Fair Value $43 62 85 63 Prepare journal entries to record each December 31 year-end fair value adjustment for these above securities. Journal entry worksheet 2. 2 3 4 Record the year-end adjustment to fair value, if any. Note: Enter debits before credits. Debit Credit Date General Journal Dec 31, 2017 Fair value adjustment-Trading (ST) Unrealized gain-Income Record entry Clear entry View general journal Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits. Debit Credit Date General Journal Dec 31, 2019 Unrealized loss-Income Fair value adjustmentTrading (ST) Record entry Clear entry View general journal