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Shamrock Corporation has the following trading portfolioof debt investments as of December 31,2020. Security. cost. fair value A. $21,280. $16,800 B. 24,640. 30,240 C. 38,080.

Shamrock Corporation has the following trading portfolioof debt investments as of December 31,2020.

Security. cost. fair value

A. $21,280. $16,800

B. 24,640. 30,240

C. 38,080. 32,480

$84,000. $79,520

On January 22,2021, Shamrock Corporation sold security C for $35,840

(a) Prepare the adjusting entry for Shamrock Corporation on December 31,2020, to report the portfolio at fair value.

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