Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] On December 31, Reggit Company held the following short-term investments in its portfolio of available-for- sale debt securities. Reggit had no short-term investments in its prior accounting periods. Available-for-Sale Securities Verrizano Corporation bonds Preble Corporation notes Lucerne Company bonds Cost $ 62,000 43,000 58,000 Fair Value $ 60,760 38,270 55,680 QS 15-9 (Algo) Adjusting available-for-sale debt securities to fair value LO P3 Prepare the December 31 adjusting entry to report these investments at fair value. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Fair Value Adjustment Computation - Available for Sale Portfolio Cost Fair Value Unrealized Amount Verrizano Corporation bonds $ 62,000 $ 60,760 Preble Corporation notes Lucerne Company bonds Total 43,000 38,270 58,000 55,680 $ 163,000 $ 154,710 Unrealized Loss Fair Value Adjustment General Journal > Fair Value General Journal Adjustment Prepare the December 31 adjusting entry to report these investments at fair value. View transaction list Journal entry worksheet < Record the year-end adjusting entry for the securities portfolio. Note: Enter debits before credits. Date December 31 General Journal Debit Credit