Required information [The following information applies to the questions displayed below.) The accounting records of Jamaican Importers, Inc., at January 1, 2021, included the following: Assets: Investment in IBM common shares Less: Fair value adjustment $1,895,000 (200,000) $1,695,000 No changes occurred during 2021 in the investment portfolio. 2. Prepare appropriate adjusting entry(s) at December 31, 2021, assuming the fair value of the IBM common shares was: $1,770,000 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Credit Answer is complete but not entirely correct. No Transactions General Journal Debit 1 1 Fair value adjustment 439,000 X Loss on investments (unrealized, NI) 439,08